Entering Section 199A Information, Box 20, Code Z

[Extirpator]

@Kayla37 - I am guessing that the Schedule K-1 has a value in box 2 (rental income) and then in box 20 you have a code Z. Tell TurboTax you have a code Z and don't put an amount (because often there are multiple codes in box 20).

On subsequent screens, TurboTax will ask you about Code Z: Section 199A information. Expand the top line about business income (loss) and then you will see the line for rental income (loss). The second line from the bottom (in 2023) lists "UBIA of qualified property" which is often listed on Schedule K-1s as Unadjusted Basis of Assets.

UBIA stands for Unadjusted Basis Immediately after Acquisition. If you put it all together it would be the Unadjusted Basis [of Assets] [Immediately after Acquisition].

[JamesG1]

Enter IRS form K-1 (1065) information at the screen Enter Box 20 info,

• Select code Z Section 199A information.  Do not enter a value to the right.
• Click Continue.
• At the screen We need some information about your 199A income, you will likely enter the following information: 
•     Ordinary business income (loss) from this business, and/or
•     Rental income (loss).

Enter these values for the Qualified Business Income Deduction to be calculated.

Some preparers of the K-1 form will include the Section 199A information on a separate statement called a Statement A.

UBIA is additional information that needs to be entered.  Click the box to the left to open up entry box  for UBIA of qualified property.

@Kayla37