If Box 13 has code W on the Schedule K-1 (Form 1065) Partner’s Share of Income, Deductions, Credits, etc. you received, you can report it in the TaxAct program to claim a Capital Construction Fund deduction (if you need help accessing Schedule K-1, go to our Schedule K-1 - Entering FAQ):

1. From within your Schedule K-1 (Form 1065), continue with the interview process until you reach the screen titled Partnership - Schedule K-1 Information, then click the checkbox next to Box 13 - Other deductions.
2. On the screen titled Partnership - Other Deductions, click Yes.
3. On the screen titled Partnership - Other Deductions - Code W and X, click the data entry field below 13W - Contributions to a capital construction fund (CCF), and type the amount.

The text "CCF" will appear to the left of the amount on Line 15 on Federal Form 1040 U.S. Individual Income Tax Return. If the text is applicable to your return (determined by the information entered), the TaxAct program automatically places the text in the correct location on the return. The text will appear on the printed or print preview form, but is only visible in Forms View for the TaxAct Desktop program.

Related Links

• Publication 595 Capital Construction Fund For Commercial Fishermen

Note that any link in the information above is updated each year automatically and will take you to the most recent version of the webpage or document at the time it is accessed.