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April 9, 2025
Question

I have a code 20Z1 that has Section 199A PTP income but got an error message I did not enter the income from the Stmt. I don't have that information. How can I clear?

  • April 9, 2025
  • 1 reply
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The instructions I received state this information was reported as 20Z1 in lieu of reporting it on Statement A of the Form K-1. I am not sure how to clear the error and move forward.

    1 reply

    PatriciaV
    Employee
    April 13, 2025

    Enter the information from Box 20 Code Z1 when asked to report Section 199A income. In most cases, you will need to enter only one type of income (ordinary, rental, etc.). 

     

    1. Open your return and go to the list of Schedules K-1 in your return.
    2. Edit/Review the K-1 with Box 20.
    3. On the Box 20 page, choose Code Z and leave the amount blank. 
    4. Continue to the page "We need some more information about your 199A income."
    5. Select the first box "...partnership has business income (loss)" to get more drop-down boxes. 
    6. In the ordinary business income box, enter the amount from Box 20 Code Z1. 
    7. Enter any other information in the drop-down boxes, if included with Schedule K1. 
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