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July 15, 2020
Question

Should Schedule K-1 Box 14. Code z* have a dollar amount listed? Mine has code z "STMT" and 2 other Code Z lines...tt doesn't tell me which it is asking about.

  • July 15, 2020
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1 reply

DavidS127
July 15, 2020

Assuming you have a Form 1041 Schedule K-1, the code Z is for "Other information".  The STMT should tell you what is being reported. 

 

So, the first thing to do is take a look at that STMT and see what amounts and descriptions are reported there.  That is what you enter on the TurboTax screen.  For box 14 code Z items on an estate/trust K-1, you will need to make "manual" entries in TurboTax if they apply to your tax return.

 

See the IRS Instructions for Form 1041 Schedule K-1 box 14 code Z at this link for a description of the types of things that could be reported on your box 14 code Z STMT.

 

 

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