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January 9, 2025
Question

K1 Line 20 Z STMT

  • January 9, 2025
  • 1 reply
  • 0 views

I'm using TurboTax Home and Business desktop for windows.

I've received a K-1 with a statement for line 20 Z. The K-1 shows three rows and values: Ordinary income; W2 wages, and Unadjusted basis of assets. TurboTax offers one line for Z without this breakdown or descriptors. Do I enter the 3 on 3 entries for Z? Is there a calculation I should do with the 3 and enter one value?

1 reply

DaveF1006
January 14, 2025

Yes, would enter all three values separately in that section and not a total.

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