On my K1, box 20, I have code Z, but there's no amount listed -- it says "STMT". Where do I find the info to enter in the amount box?

Forum|Forum|6 years ago
February 3, 2020
19 replies
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TurboTax Self Employed Online

DavidS127

Level 13

You should find the amount and codes to enter on a statement attached to your K-1. The "STMT" is an abbreviation for "statement".

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raquelheckaman

Level 2

What if there is nothing in the 199A box? Do I just put a 0 for line 20?

DianeC958

Level 12

If there is not an amount for box 20 you do not need to put a $0 just leave the box blank.

@raquelheckaman

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amy10

Level 2

In Field 20, code Z, in TurboTax there is only one field available to fill in. But the K1 provides 3 numbers: rental income/loss, W2 wages, and unadjusted basis of assets. What numbers do I fill in where?

JamesG1

Level 15

Follow these directions to report 199A income from your partnership K-1.

At the screen Enter Box 20 info, you likely need to select code Z Section 199A information. I have seen comments that the Amount does not have to be entered but I enter the Box 1 or Box 2 number if a value is not provided.
Click Continue.
At the screen We need some information about your 199A income, you will likely need to enter the following information:
Rental income (loss) from this business,
W-2 wages for this business, and
UBI of qualified property for this business.

Enter these values for the qualified business income deduction to be calculated.

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goodhobbit

Level 2

I have a 'Z" in box 20 on my K-1. On Statement A which comes with the K-1 it indicates that the dividend income for form 199A is $1. I entered the $1 into TurboTax and it said it was an error and won't allow me to file the return electronically. Help ... I don't know how to proceed.