USA Client Received K-1 with Box 13 code L

Apr 2, 2020
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United States
The client received a K-1 with box 13 code L amount. This flowed to his Sch A as an other misc. itemized deduction. My question is there any difference between this & code W? In the details the code L says Management fees, which I believed were subject to the 2% floor that was eliminated.

He had the same thing in 2018 which the prior CPA firm allowed the amount to follow to his Sch A & took as a deduction. It is a large well known firm, so now I am questioning myself as to whether he is in fact allowed to take the deduction, however, everything I can find says he cannot.


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