K-1 Part III Line 20

Forum|Forum|3 years ago
March 29, 2023
1 reply
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Entering info from our K-1 into TurboTax Premier for 2022.

My form from the Partnership has 4 codes under line 20: T, Z, AE, and AG. (Code Z has an explanation further into the statement that says "Section 199A, box 20, Code Z" and describes it as Ordinary Income.)

The software is only giving me three lines to fill in codes and amounts. How do I get a 4th line? Or should part of this info be entered somewhere else?

Mike9241

surprise those 20 codes don't have to be entered since Turbotax doesn't use them (or says not provided for in program enter on appropriate form)

20T see IRS PUB 535

20AE see form 8990 instructions

20AG see k-1 instructions page 19

20Z is probably the only one that will affect your taxes. later on, as you going through the the entries there will be a question about this being eligible for 199A or QBI (qualified business income deduction) that's where you enter the 20Z amount

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there are at least 30+ codes for line 20. there should be a scroll bar to allow you to enter more than 4 items.