How to treat Unreimbursed Partnership Expenses

Question

I am a partner in a partnership. Some business expenses are not reimbursed by the partnership and can be claimed as "unreimbursed partnership expenses" (UPE) on page 2 of Schedule E, thereby reducing taxable income from the partnership (which is reported on Schedule K-1). There does not appear to be a tax category within the Schedule E options in Simplifi to properly assign to spending categories that are UPE. How should I be handling this in Simplifi so i can properly track which expenses are UPE?

Coach Kristina · Accepted Answer

Hello @azevin,

Thank you for coming to the Community with this question.  Since that specific line item isn't in Quicken Simplifi, perhaps you could use Schedule E, Other Expenses, and include UPE in the category name, so that you still have an indicator which line to use at tax time.

Additionally, I recommend that you create an Idea post requesting that the tax line item be added.  Ideas that get enough votes may be implemented in the future.  For information on creating an Idea post, please review the post below:

https://community.simplifimoney.com/discussion/998/creating-and-voting-for-ideas-in-the-community

I hope this helps!