Code AJ

[Uberlink1]

Very interesting post above about there being no need to include any number for Box 20 - AJ, if you have no losses. My numbers are positive - no losses. Can anyone else corroborate that we can safely omit this info altogether in that circumstance?

[PatriciaV]

If your business income exceeds business deductions from all sources, you have no excess business loss. The information from the K-1 wouldn't be applicable.

Here's a work-around for 1065 Schedule K-1 that allows you to enter the information but avoid the form error:

In the Schedule K-1 interview, choose Box 20 Code ZZ instead of AJ. Continue until you see "Enter Other Information Detail." Enter two lines: Label one line "AJ - Aggregate Business Income" with the number from Box 20 additional information and the second "AJ - Aggregate Business Deductions" (usually a negative number).

Your entries appear on the K-1 worksheet under Box 20 Code AJ to ZZ Line 6.

You can use the same work-around for a 1120S K-1 with Box 17 Code AG.

@tomisalami 

@Uberlink1

@Choopy  

[shimyoon]

I have entered information  from the K-1 as Patricia V suggested for a work-around.  I am now getting a request for a Facility Registration Number, which I do not have.

[PatriciaV]

The work-around for Form 3468 registration number: If you enter ""TMXXX99XXXXX" on Line 2a, this will allow you to e-file.

@shimyoon 

[trb231]

What a cluster. Sounds like Intuit doesn’t have the capability of filing my return appropriately. I was ready to submit on 2/29 when all these errors popped up like gasification and facility number etc. wished I wouldn’t have prepaid to lock in the price, I think I’d rather take this to a tax pro now. Thank you for sharing work arounds, but I like to understand what it is I’m entering into these forms. What does TMXXX99XXXXX mean? And why select ZZ instead of AJ when the statement is for AJ?

[PatriciaV]

In most cases, Box 20 Code AJ doesn't apply to individual taxpayers preparing their own tax returns. Using Code ZZ allows you to record the information without triggering other forms.

The registration number is a placeholder that allows you to e-file the form.

@trb231 

[tomisalami]

in my case I need to use the Box 17 AJ code, is turbo tax planning to fix this issue so I can correctly file with them?

[kwall71]

Will this be fixed before our taxes are due?  Can I get a refund on the upgrade fee to try to get help that no one could give?  Let your help desk know this an issue so that you don't waste their time and ours trying to figure this out when y'all knew about it for weeks.  

[tomisalami]

I spoke with my accountant about this. I'm part owner of a s Corp. As part of the business tax return he's filing my k1 that will have this code AJ data. Told him about my dilemma with TurboTax. He said to go ahead and just not enter the AJ data. He said it will have no effect on my return as it's really just for data collection. I'm taking his advice. But really hope Turbo tax figures this out for next tax year 

[gbootheehs]

Your link does not work.

Greg

[Eddie29]

Hello Patricia @PatriciaV ,

I also am having the Box 20 Code AJ issue where TurboTax takes me gasification questions. I went ahead and did the review which said I was missing gasification info and just started to enter no and N/A to get through it but .  In reading this thread I found out it was bug.  I have also box Z entered with a loss. I decided not to enter Code AJ at all but now I keep getting asked to fill out form 3468 with these same questions. How can I just delete this form so it's not filed with my tax return.

Thank you!

[buerlingp]

I am having trouble with Code AJ on the K-1 creating a request for gasification.  When I click on your link to updated I get

We're sorry, we can't find the page you requested.

You may have clicked on an article that has been deleted or outdated.

When can an update be expected?  This is my last item to complete my taxes and I am stuck.

[CatinaT1]

This was resolved on March 14. 

Try closing TurboTax, clear your Cache and Cookies if you are using TurboTax Online, and reopen TurboTax.  You can also try a different browser.

Also, make sure you have ran all updates. 

If using TurboTax Online: Clear your cache and cookies. See this FAQ, for your particular browser.

If using TurboTax Desktop: Please see this FAQ.

[drcomolli]

I have two numbers with code AJ. Aggregate business activity gross income or gain and aggregate business activity deductions.  What do I do with them??   

[PatriciaV]

In the Schedule K-1 interview, choose Box 20 Code ZZ instead of AJ. Leave the amount blank. Continue until you see "Enter Other Information Detail." Enter two lines: Label one line "AJ - Aggregate Business Income" with the number from Box 20 additional information and the second "AJ - Aggregate Business Deductions" (usually a negative number).

Your entries appear on the K-1 worksheet under Box 20 Code AJ to ZZ Line 6.

@drcomolli