Code AJ has nothing to do with gasification or coal etc. But when you run a review an error shows asking you to identify the amount as what type of gasification or coal project. Think it is a TurboTax program error
I am running into this same thing. Please fix turbo tax. @Turbotax
We are unable to reproduce this review message when entering Form 1065 Schedule K-1 with Box 20 Code AJ. Please close TurboTax, reopen your return then run Review again.
If the message persists, it would be helpful to have a TurboTax ".tax2023" file to test further.
If you would be willing to send us a “diagnostic” file that has your “numbers” but not your personal information, please follow these instructions:
In TurboTax Desktop, open your return and go to Online in the black TurboTax header (on a Mac, choose Help).
We will then be able to see the same experience you are having. If we are able to determine the cause, we'll reply here and provide you with a resolution.
token #1194810
This should show the error that comes up when you run a Federal Tax review.
Believe workaround is to default to Other and type in Code AJ and then enter the $ amount?
this is what keeps popping up. I took the advice of another turbo tax expert on here and tried entering AJ twice, one for the income and one for the deductions, and I still get this gasification fix screen. Any more advice?
I have the same error. I have two AJ entries - one for Income 51,836 and the other for deductions 19,538 both are positive on my K-1. I think I need to enter the 51,836 as a positive and the 19,538 as a negative so it totals box 2 on my K-1. But I am also getting an error message regarding gasification which this has nothing to do with the topic. TurboTax wants me to fill in on the form title Schedule K-1 Partnership Additional Information (For Boxes 4, 9c, 11, 12, 13, 15,16,17, 18 and 20) under Section Code AH to ZZ: Other Information Line 1 a Basis of gasification combined cycle property the sum of the two numbers in this case 32,298 (51,836-19,538). Please advise.
Thank you for the Token number. We will investigate and if we are able to determine the cause, we'll reply here and provide you with a resolution.
Although the first line in the subform mentions "gasification," this is only the first of several lines available for entry. Note the heading says "Code AH to ZZ: Other Information."
Scroll or tab down to Line 6 "Other" and enter a short description (Code AJ Income, for example) then the amount from your K-1. If there are two amounts, enter each on a separate line under Other. The review message will clear.
It does not allow you to scroll down and enter anything on line 6 "other". can i just put 0 in basis of gasification?
This is a known issue. You can sign up here for updates: Why am I receiving an error in TurboTax for Schedule K-1 Box 20 when code AJ is selected?
I'm having the same problem. The K-1 I received has line 17 with code AJ listed. The supplemental Information sheet has under Descriptive information two AJ lines with Agg Busness income and one with Agg Business Activityy Total Deductions. After listing both numbers on the input screen give me the same gasifacation error during review,
I don't believe.they have updated the codes for 2023
Mine is also on 1120-S K-1, box 17, code AJ. I can't figure out where to enter that into TurboTax. There are two different amounts -- one for Aggregate Business Activity Gross Income or Gain and one for Aggregate Business Activity Deductions. What do I do with this information -- where does it get entered?
I have exact same issue. Looking forward to knowing when update is out. This can't be a hard problem to resolve.
As CatinaT1 posted earlier, this is a known issue. If you sign up for updates via this link, you will be notified when the Box 20 issue has been resolved: Why am I receiving an error in TurboTax for Schedule K-1 Box 20 when code AJ is selected?
This has been a known issue for weeks now and how is there not a fix?! Turbotax software obviously thinks this AJ belongs to a different K1 box since Box 20 AJ has nothing to do with gasification or mining.
We're not even close the married 540,000 limitation so I'm thinking its just going to be easier to omit AJ.
The incorrect identification of Code AG/AJ will be addressed in a forthcoming update. We recommend signing up to be notified when the update is released: Why am I receiving an error in TurboTax for Schedule K-1 Box 20 when code AJ is selected?
However, since this information will be used only if your net losses from all businesses are more than $289,000 ($578,000 if filing a joint return), you have the option to omit the code and the amount(s) from Schedule K-1.
I paid extra for the upgrade to get help. I was transferred to 2 different people, we spent over an hour and a half on the phone. She still could not help me- please let them know too. It would have saved everyone a lot of time. Please tell me this will be fixed soon.