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April 11, 2024
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Schedule K-1 Box 20 Entry STMT Number

  • April 11, 2024
  • 1 reply
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Hello,
On the Schedule K-1 form, the box 20 has STMT (not number).
I go to the details of the K-1 form and see that there is a section 199A, Box 20, Code Z has the following:

DESCRIPTION                                                    AMOUNT
RENT     SOME PROJECT NAME                   

RENTAL INCOME                                              #####          (Small number)
W-2 WAGES                                                       #####          (Small number)
UNADJUSTED BASIS OF ASSETS                  #####          (large number)

RENT     SOME OTHER PROJECT NAME                   

RENTAL INCOME                                              #####          (Small number)
W-2 WAGES                                                       #####          (Small number)
UNADJUSTED BASIS OF ASSETS                  #####          (large number)

 

Should I put the number in the TT Box 20 code Z, the sum of the two UNADJUSTED BASIS OF ASSETS? 
Or, another number?

Thank you.

 

 

    Best answer by ThomasM125

    I assume the income from both projects is reported as such on your K-1 schedule. In that case it would be necessary to add the two unadjusted basis of assets together. You enter the combined income for the code Z entry in box 20. Later on another screen you will be asked to enter the unadjusted basis of assets.

     

    1 reply

    April 13, 2024

    I assume the income from both projects is reported as such on your K-1 schedule. In that case it would be necessary to add the two unadjusted basis of assets together. You enter the combined income for the code Z entry in box 20. Later on another screen you will be asked to enter the unadjusted basis of assets.

     

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    Dmitry 12Author
    April 13, 2024

    Thomas,


    Thank you very much for your help!