As of 2018, expenses that would have been classified as "Deductions - Portfolio (2% floor)" are no longer deductible on your personal federal income tax return. These expenses may still be deductible on your personal state income tax return. The 2018 Schedule K-1s produced by the bivio tax software will include the relevant information in a supplemental statement as long as each expense is properly categorized in the accounting program.

The 2018 tax software is undergoing testing and government approval. No tentative release date is available at this time.

Ira Smilovitz, EA

On Sun, Jan 27, 2019 at 11:09 AM Herbert Lemcool via bivio.com <user*20718500001@bivio.com> wrote: