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Enterprise Products Partners L.P. Message Board

  • rudfox rudfox Mar 29, 2012 1:25 PM Flag

    Putting K-1 Line 13 numbers into TurboTax (not EPD-specific)

    Some of us have had various amounts of confusion with the 13T numbers. Some find associating the descriptions with a box not so easy. One shortcut is that if none of your K-1s has a "W-2 Wages" amount > $0, then you can ignore all 13T numbers; you are not going to get any domestic production deduction anyway.

    I uploaded a graphic file at
    http://www.picwizz.com/upload/2927-6216.png to help discussions.
    It shows the boxes that you use to insert K-1 line 13T into TurboTax for both Forms and Step-By-Step mode (in that order). The green numbers identify each box that you enter data into. The right-hand column (Z) is not really written into, but it is computed as columns X - Y.

    I did not include the 13T1, 13T2, 13T3, ... designations, since those are not uniform across K-1s. The descriptions vary to, but I did not include the permutations that seemed pretty clearly to be equivalent. I think those below are unique, but maybe not all-inclusive.

    Here is a first stab at relating the box to the description. The font may cause things to not line up so well. Each match line starts with an '_' to avoid line-wrap confusion. I am presuming in my guesses that everything is oil related. Maybe that is a flaw. Please help with corrections and improvements.

    Box(es) ___ 13T Description from various real K-1s
    ---------------------------------------------------------
    _??___ Domestic production activities deduction
    _Y1___ Domestic production gross receipts (DPGR)
    _A1___ Gross receipts from all sources
    _X2+Y2 Cost of goods sold allocable to DPGR
    _A2 ___ Cost of goods sold from all sources
    _X3+Y3 Total Deductions, Expenses, and Losses directly allocable to DPGR
    _A3 ___ Total Deductions, Expenses, and Losses directly related to Non DPGR or another class of income
    _A4 ___ Other Deductions, Expenses, and Losses not directly allocable to DPGR
    _X5+Y5 Form W-2 Wages Allocable to DPGR
    _?? ___ Charitable Contributions
    _??___ Interest Expense

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