To view any form in TurboTax Business, click the Forms icon in the TurboTax header. Look for "Statement A" in the left column under the Schedule K-1 for the partner in question. Click the form name to open it in the large window. There should be a column with "1065, Line 20" at the top with more information about the information on that line.

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kempcon1

Question

In Turbotax for Business, how to I view Statement X for line 20 on the K-1?

Forum|Forum|1 year ago
February 9, 2025
1 reply
0 views

No text available

PatriciaV

Employee

To view any form in TurboTax Business, click the Forms icon in the TurboTax header.

Look for "Statement A" in the left column under the Schedule K-1 for the partner in question.
Click the form name to open it in the large window.
There should be a column with "1065, Line 20" at the top with more information about the information on that line.

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kempcon1Author

Alas, there is no form for Statement X in the left column. I see the one for Statement A, and I can access it. However, I have an entry in Line 20 that is "X * STMT". That's the Statement I'm looking for.

But, while we're at it, let's talk about Statement A. The number on Statement A appears correct to me. It is our Ordinary Business Income. However, the figure displayed for that code on the K-1 is different. It is our interest income. Can you explain that? I would be forever grateful as TurboTax Help Center people have been no help at all.

Thanks!

PatriciaV

Employee

The "X" on Line 20 is the box code for the explanation on a Supplemental Information sheet that accompanies Schedule K-1. According to the Instructions for Schedule K-1, code X is for "Payment Obligations including guarantees and DROs." The supplemental info sheet should include more information about your portion of debt.

Interest Income is directly allocated to the partners and is not included in QBI for the partnership. This may be the difference you are seeing on Statement A.

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