Schedule K-1 Line 13 coded as ZZ $180000

[RP]

Shcedule K-1 Box 13zz shows other deductiond ..Business Interest deductions of 180k as shown above 

explaination said that it is deductible on the individual income tax return Echedule 3 p2. The person is an employee and not a partner , is it still deductible ?? Interest income on k-1 is 50K

[sjrcpa]

Why are they getting a K-1 if they are not a partner?

[IntuitThomasM125]

If the employee received a K-1 form, then he must be a partner as well as an employee. I believe what you mean is that $50,000 of interest income was reported on line 5 of the K-1 form. In box13 is listed $180,000 of investment interest expense. You can deduct the investment interest expense up to the amount of investment income on Form 4952, Investment Interest Expense Deduction, on line 1, Part 1. 

[sjrcpa]

Investment interest expense is reported on Line 13H of the K-1.

[abctax55]

OMG ...  SMH.