Question

K1 line 20 question

Forum|Forum|2 years ago
March 9, 2024
1 reply
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I

i have received a schedule K1 with line 20 as shown below. Income Item & Additional information?

How do i enter Line 20 information in my tax return ?

TurboTax Home & Biz Windows

PatriciaV

Employee

After you complete the Schedule K-1 entry, including Box 20 Code ZZ (no amount), continue the next screens. At some point, TurboTax will ask about Section 199A (QBI). Check the first box "The income comes from the [entity] that generated this K-1." The next screen, "We need some information about your 199A income" will display boxes for you to enter the amounts provided to you on Statement A.

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T

taxmoney101Author

if I select ZZ with no amount in Box 20 , I am getting below

But if i Enter Z with the amount - 142 in Boz 20 first and then i am getting the screen

about Section 199A (QBI). Check the first box "The income comes from the [entity] that generated this K-1"

If I click next i am getting "We need some information about your 199A income" . Do i need to enter the unadjusted basis amount $13,392 as renatal income loss ?

Thanks!