Question
Code 13L on K1
Has anyone run into an issue where Code 13L on Form 1065 - K1 is flowing to Schedule A as an itemized deduction under line 16 (Other Deductions), which in increasing itemized deductions? The source of Code 13L is investment advisory fees which are no longer deductible under TCJA.
Intuit techincal support is adament this is correct and it should flow to Schedule A as an other deduction under Intemized. Clearly it is overstating itemized deductions on Schedule A.
Let me know if you have run into this and can add some comentary.
Chris
