Box 20 Code Z has been selected but no Section 199A income has been entered on Statement A

Forum|Forum|3 years ago
February 25, 2023
1 reply
0 views

My K-1 Box 20 has Code Z with a value STMT. The statement I received along with the K-1 has 3 figures:

Net Rental Real Estate Income/(Loss)
W-2 wages
Qualified Property

Turbo Tax only asks for 2 of them in the interview section related to 199A income (W-2 wages and Qualified Property). While it also asks for ordinary income (my statment has no ordinary income) there is no place to enter the supplied Rental Income/Loss.

When I run Smart check I get the error (Box 20 Code Z has been selected but no Section 199A income has been entered on Statement A). I reviewed similar topic from last year but no solution was provided that was applicable to my situation.

thomasrammAuthor

Nevermind. The second after I posted it I found the solution. Once you click on the income box in the 199A interview you get a choice of selecting Rental Income.