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tgrindle
April 4, 2025
Question

How do I enter K-1 line 20 Code AG information?

  • April 4, 2025
  • 1 reply
  • 0 views
There are 3 previous years of amounts listed.

1 reply

PatriciaV
PatriciaV
Employee
April 6, 2025

Since TurboTax doesn't process your entry for Box 20 Code AG, you may enter one amount, the average or a total of all three amounts provided for Schedule K-1. 

 

According to IRS Instructions for Form 1065 Schedule K-1 Code AG. Gross receipts for section 448(c), you may need this information to figure the gross receipts test under section 448(c). You can read more about this test here: Basic questions and answers about the limitation on the deduction for business interest expense.

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