Deductions and Write-Offs

No. The K-1 disallowed losses due to the At Risk limitation rules are not lost and can be carried over and may be deductible in future years. The term "At risk" means the exposure to the danger of economic loss. A person can claim a tax deduction in a limited partnership up to the amount he or she is at risk if the taxpayer can show it is at risk of never realizing a profit and of losing its initial investment

Unreimbursed payments for long term care services for chronically ill individuals are deductible medical expenses subject to certain age limitations and to the 10% / 7.5% AGI limitation on IRS Schedule A.
For year 2016 the maximum deductible premium amounts are $390 if you are age 40 or younger , $730 for those ages 41 - 50, $1,460 for those 51-60, $3,900 for those age 61-70 and $4,870 for those over age 70.

Qualified long term care insurance contracts will generally be treated as health insurance for purposes of the self-employed health insurance deduction on IRS Form 1040 page 1.

Tax-exempt interest from municipal bonds, exempt interest dividends from a mutual fund or other regulated investment company, although not taxable, is reportable to the IRS on Form 1040 line 8b, as well as on Schedule B.

Enter the total interest income amount on IRS Schedule B line 1, and under the subtotal of all the interest income, enter the 50% amount owned by your brother as a negative amount with the description "Nominee Distribution".

Yes. The amount of the penalty on early withdrawal from your savings certificate is listed as an adjustment to income on Form 1040 line 30.

Generally There is no federal tax due on interest on bonds from states, cities, counties, possessions of the U.S. or the District of Columbia.
Generally, these same items have to be added back as income on the state return subject to state tax.

Original Issue Discount (OID) occurs when a long-term debt instrument is issued at a price that is lower than its stated redemption value. OID is the difference between the stated redemption price at maturity and the issue price of a debt instrument.
OID interest usually is found in debt instruments of bonds or notes. Generally, a 1099-OID slip is issued with the taxable amount included.
OID interest is reportable on IRS Schedule B. There are certain exceptions to the OID requirements, as well as situations when the OID slip may be ignored.
Speak to your local CPA or check IRS publication 1212 about the reporting of the 1099-OID on your tax return.

Interest earned on zero coupon bonds is treated as original issue discount (OID) and is taxed every year owned.
You will receive a 1099-OID slip reporting the taxable amount that is reportable on IRS Schedule B.

No. There are 2 limitations that come in play. The deductible amount taken as an entertainment expense for tickets is the face value of the tickets. The excess amount paid to a ticket agent or scalper is not deductible. Secondly, all meals and entertainment expenses are limited to 50% of the cost. The deduction will be claimed on the business Schedule C Form or Form 2106. You should maintain a diary of all business expenses listing the person, the event, the date and the business agenda that was discussed.