Question

"Sch K-1 box 20 code Z has been selected but no Section 199A income has been entered on Statement A" - please advise what to do?

Forum|Forum|2 years ago
September 27, 2023
1 reply
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I have a K-1 , form 1065 available , from which I entered all the values.

Thanks

Ask the Experts - Extension - Sept 2023

MercieD1

If your K1 had business income, there should have been values entered onto the Statement A attached to the K1. If you entered it, there is another step to take. This information is entered on the Page that says "We Need some information about your 199A Income"

There is a list of items that would appear on your schedule A on that page. What you need to do is check off the lines that correspond to the information on the Schedule A. This expands the lines so you can enter the information from the Schedule A onto the screen.

This should get rid of the error.

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