Skip to main content
August 26, 2024
Question

How to Calculate Code Z, Box 20

  • August 26, 2024
  • 1 reply
  • 0 views

In Box 20 on the K-1, it gives me a STMT entry and tells me to calculate the number.

I have 3 entries:  Ordinary Income (Loss), W-2 Wages, and Unadjusted Basis of Assets

I have numbers in each item.

 

How do I calculate for the QBI deduction and enter the correct number for Code Z.

1 reply

September 25, 2024

IN 20Z just enter the income/loss number. later on, Turbotax will ask further questions that will allow you to enter each of the items you mentioned.