This is the first year I've gotten a K-1. I invested in a limited partnership and earned about $6k in interest income (Box 5). However, I also paid about $1600 in "Professional Fees" as stated in Box 13. Turbo tax isn't deducting these fees as I might have expected. Surely these fees (coded with a "W") are deductible? I saw that some fees are subject to the 2% floor rule (which I don't meet). If I can't deduct these fees somehow, my returns on the fund are taxed at an effective rate of 60%!

Any advice? Any further detail I can provide?