Filling TurboTax question answer for K-1 Box 20 Code Z

STMT is written in my K-1 Box 20 Code Z. In Statement A, there are 3 numbers in following 3 rows.

Ordinary business income (loss)

W-2 wages

UBIA of qualified property

TurbroTax is asking me to fill in the code and the dollar amount reported on box 20. So, in this case, when I fill code Z there, should I put the dollar amount reported for "Ordinary business income (loss)" written in Statement A?

206

Expert Alumni

Apr 14, 2023 8:57:53 AM

Once you choose code Z from the dropdown list you can leave the amount box blank since your form does not have a dollar amount there. The next screens will ask for the details from your Statement A in order for TurboTax to calculate your potential QBI Deduction.

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Filling TurboTax question answer for K-1 Box 20 Code Z