My schedule K-1, Section 199A Box 20 Z information has five descriptions: Ordinary Income (Loss)Self Employment Earnings (loss)Health Insurance PaymentsW-2 WagesUnadjusted Basis of AssetsWhere do I enter "Self-Employment Earnings (loss) in TT?Where do I enter Health Insurance Payments in TT? I know where the other thee entries get entered. Many thanks

N

Norml

Question

Section 199A Box 20 Code Z

Forum|Forum|5 years ago
June 30, 2020
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My schedule K-1, Section 199A Box 20 Z information has five descriptions:

Ordinary Income (Loss)
Self Employment Earnings (loss)
Health Insurance Payments
W-2 Wages
Unadjusted Basis of Assets

Where do I enter "Self-Employment Earnings (loss) in TT?

Where do I enter Health Insurance Payments in TT?

I know where the other thee entries get entered.

Many thanks

DavidS127

You don't need to make a separate entry for the Self-Employment Earnings/Loss or the Health Insurance Payments. Instead, TurboTax picks those amounts up other entries you make.

For the self-employment earnings, those should also be reported in box 14 of your K-1. That is where TurboTax picks up that number for both the self-employed health insurance and the QBI deduction calculation.

For the Health Insurance Payments, that amount should either be reported in box 13 code M on your K-1 and TurboTax picks up that number for the QBI deduction calculation.

Although this should not be the case, if for some reason your health insurance amount is not reported in box 13 code M on your K-1, you'll enter it in response to a "next screen" question from TurboTax that you get when you select "I personally paid for health insurance and/or long-term care insurance premiums for myself and my family" on this screen: