Question

My husband has a K-1 form that has STMT on line 20 with 3 different codes (Z, AG, AH) all with STMT in for the value. How do I enter this in turbo tax?

Forum|Forum|5 years ago
March 22, 2021
1 reply
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The attached statement have some numbers but the AH has 2 columns and 3 rows of numbers. All values are 0 except Column Not At Risk, Row Nonrecourse which is 53.

TurboTax Self Employed Online

J

janetspringfield

I have the same issue. Did you get a reply?

T

ThomasM125

When you enter your K-1 schedule, you need to check box 20 when prompted to indicate which boxes you have numbers in on your K-1 schedule. When you get to the box 20 entry in TurboTax, in the drop down menu you will choose the Z, AG and AH codes and enter the numbers listed on your K-1 statement for those codes.

If you have $0 on your K-1 statement for any of the codes, you shouldn't list them in TurboTax.

Code Z is the most important entry, as that is for your qualified business income (QBI) that you may get a deduction for. It is often the same amount as the income entered on line 1 to 3 of your K-1 schedule, but it doesn't have to be.

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K

kps2005

The statement for AG on my K1 has three lines with a description and an amount. TurboTax is not prompting me for that? They are gross receipts for 3 prior years. Where do I enter this?