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March 31, 2020
Question

What goes in for the value of K-1 Line 20 with a Z and AH Code

  • March 31, 2020
  • 1 reply
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My K-1 has a statement listed for line 20 with a  Z  and AH  in the code column for line 20. My statement has nothing  related to the Z code. For AH the following info.  is on the line 20 statement.

 

Gross Receipts 2016:

Gross Receipts 2017:

Gross Receipts 2018:

 

Business Expenses Limitation Information:

Business Expense

Adjusted taxable income

Distribution in excess of Partner Basis

 

What values do I report in line 20?

 

    1 reply

    DaveF1006
    March 31, 2020

     

    Here is the order that should appear in your return in Box 20

    1. if there is a Z, select Z in the drop down and leave the $ blank.
    2. In the next box below type in AH and then there will be a screen that appears asking you to record you AH description
    3. in the screen, there will an entry made at the bottom that says other description enter below . 
    4. Here is where you will list the entries that you listed above in this section.  List each one individually.  If you need more boxes than appears to be available, don't worry.  Additional boxes will be created if necessary,
    5. Check any disclosure statements to see if there is Additional information to enter for Box 20, Z code. Usually the information may be in a supplemental disclosure statement.  The reason I mention is that you can claim a QBI deduction for this code. in fact if you have a Z code in Box 20, and if you have the information to record that pertains to that entry then: 
    6. Here is the order that should appear in your return in Box 20

    7. if there is a Z, select Z in the drop down and leave the $ blank.
    8. Next screen asks about the risk.  indicate you are at risk
    9. Then there will be a screen that appears that says, We see that you have 199A income.Here you have three choices to make.  pick one that is applicable to you.
    10. Next screen will say we need some information about your 199A income. If you have the information that goes into this section, record it here.
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