CPA gave me a K1 with information in a different format to how TurboTax asks for it

[PaperworkReduction_Act]

Hello.  My problem starts when I try to do the Federal Review on my year 2020 federal taxes.  

 The top of my K-1 form looks like this, and nowhere is there anything about a Sch A box.

Question: What is the basis for ticking Sch A Box versus doing form 1116? 

When I get to Box 14, the real trouble starts.   This is what the CPA gave me :

For each *, they provided footnotes.  For the life of me, I cannot see a direct connection between the way they represent the info and the TurboTax K-1 questions.  This is what the CPA gave me for footnotes :

I removed the $ amounts from the screenshots for privacy and added in unique expressions, A01... in red, so that the values can be discussed individually.

Question : can anyone provide a reference that would tell me exactly how to fill in the TurboTax K-1 ?  Where do I put value A01 for instance?

I tried ticking [x] Sch A Box and then I get

None of those phrases match to those listed in the info from the CPA (above).

I should probably mention that this CPA charged us far too much and the very last thing I want to do is ask them a question directly.

I hope someone has time to answer this. 

Stay safe & healthy.  Happy spring.

[DaveF1006]

it depends.  The first thing I notice is that your K1 is a 2019 form.  This should be reported in a 2019 return. To clarify, are you you working on a 2019 return?

[PaperworkReduction_Act · Accepted solution]

I too first saw the big bold year 2019 numbers. However the next part shows that this is for a custom tax filing year and therefore belongs on a year 2020 tax return.

[Rick19744]

While this may be what you call "custom",  that doesn't change the fact that this indicates 2019.  This information is provided to the IRS and they will be looking to match this to your 2019 tax return NOT your 2020.

[PaperworkReduction_Act]

I received an answer from a highly respected CPA in Boston today.  It contradicts your opinion. 

She was quite clear that this income should be reported on the 2020 return. Although the K1 states that it is 2019 income, the recipient beneficiary should report this based on the fiscal year-end date of April 30, 2020.

[Rick19744]

I agree.  My original response was based on just looking at the 2019 year on the K-1 equivalent form.

When opening up your attachment, I see that this is a fiscal year ending in 2020.

This is an unusual situation, so I assume who ever is preparing the K-1 has gone through the analysis of the required tax year for the partnership.