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N
ngainc
Level 2
October 9, 2021
Question

How to enter Intangible drilling cost in 1120S from k-1 line 13 code w

  • October 9, 2021
  • 5 replies
  • 20 views

After entering the information into the K-1, the deductions for the drilling cost are not reducing the taxable income as it should

This topic has been closed for replies.

5 replies

Just-Lisa-Now-
Just-Lisa-Now-Intuit Community Champion
Intuit Community Champion
October 9, 2021
If you use the Quickzoom button under Line 13 for Code W, you'll see that many of those items need to be manually entered in the return.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
N
ngaincAuthor
Level 2
October 9, 2021

Thank you

T
Terry53029Intuit Community Champion
Intuit Community Champion
October 9, 2021

There is no line 13 code W on a 1120s K1. There is a line 13 code W on a 1065 K1. Double check your K1 info

    Just-Lisa-Now-
    Just-Lisa-Now-Intuit Community Champion
    Intuit Community Champion
    October 9, 2021
    Ah, good catch, I missed that it was a 1120S K-1, I looked at a partnership K-1
    ♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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