Entering multiple entries for Code Z Box 20 on K-1 (Section 199A)

[jeffreymilum]

I am using desktop TT Premier.

I have a K-1 from a REIT that operates many properties.

Under the SECTION 199A INFORMATION, BOX 20, CODE Z on the K-1 I have over a dozen seperate entries listed (all with rental income amounts specified, most (but not all) with W-2 Wages  and/or Unadjusted Basis of Assets amounts).

Four of them do NOT have a seperate EIN listed.

The others DO have seperate EIN listed and are also identified as "Passthrough."

I don't understand how to enter this information into TurboTax.

I attempted to do so by creating multiple entries on the "Enter Box 20 Info" in Turbotax by selecting "Z-Section 199A Information" on multiple drop down boxes and entering the associated amounts.  However, TurboTax then only aks me one time for more information rearding a Code Z entry, so I can not enter information for the seperate Code Z entries listed on the K-1.  

The only other way I can think of is to create multiple K-1 entries in the TurboTax "Partnership/LLC K-1 Summary" screen, but I only received one K-1. So I think this would be an inappropriate solution.

Please help!

[9100]

Entering multiple entries for Box 20, Code Z from a K-1 in TurboTax can be a bit confusing, especially when dealing with separate entries associated with a REIT and various passthrough entities. Here’s how you can navigate this in TurboTax Desktop Premier:

Steps to Enter Box 20, Code Z Information in TurboTax:

1. Open Your Return: Start by opening your return in TurboTax Desktop.

2. Go to K-1 Input Section:

   • Navigate to the section where you can enter K-1 information. You can usually find this under “Federal” > “Wages & Income” > “Schedule K-1.”

3. Select Enter K-1 Information:

   • Choose the option to enter K-1 information from a partnership, S corporation, estate, or trust.

4. Locate the Box 20 Information:

   • After entering the main details from your K-1, you should see an option to enter “Box 20 - Other Information.”

5. Choose Code Z:

   • Within the Box 20 section, you’ll be able to select Code Z (Section 199A Information). This is where you’ll enter details specific to your REIT.

6. Enter Information for Each Code Z Entry:

   • For Each Entry: When entering information for Code Z, it’s important to add a new entry for each separate amount listed on your K-1.
   • Use the "Add Another" button or the “Enter Box 20 Info” link if it allows you to enter additional details. If it's not allowing you to enter multiple entries, try using the "Edit" option to add or adjust entries.
   • Enter the details for each amount, including the rental income, W-2 wages, and any unadjusted basis of assets, as they correspond to the entries on your K-1.

7. Handling Missing EINs:

   • For the entries that do not have a separate EIN listed, you may still enter the rental income and any associated amounts (wages, basis) without an EIN. Just make sure to accurately enter the amounts and note that they are associated with the overall K-1 reporting.

8. Review Entries:

   • Once all entries are added, review them to ensure everything matches what is on your K-1 form.

9. Finalize Your Return:

   • Continue through the rest of your TurboTax return to ensure all other information is properly entered, and finalize your tax filing process.

Important Tips:

• Consult TurboTax Help: If you're having persistent trouble, TurboTax offers built-in help features. You can search for "K-1 Code Z" in the Help section for guidance specific to the form you are working with.
• Reach Out to TurboTax Support: If you can't seem to enter the information correctly, consider contacting TurboTax customer support for direct assistance.

If you continue to experience challenges entering your K-1 data, providing TurboTax support with screenshots or your specific K-1 entries may help them assist you better.