Form 1065 K-1

[RReshel1]

I received a schedule K-1 and box 20 has a code Z as well as a code AH. On my K-1 there is a page listed Box 20, Code Z-Section 199A information Column A lists Commercial Building and then in column A there is Net rental real estate income (loss) $6,590.00

There is also listed in column A W-2 Qualified wages Qualified Property $114,106.00 

Were would these numbers get listed in Turbo Tax, or do I not have to list them.

[DianeC958]

Once you indicate to TurboTax that you have information in Box 20 with a code Z, as you continue through the section it brings up another page where you enter the information you have on your statement about Code Z.

@RReshel1

[RReshel1]

This is were I am lost, when I click on the box and bring up the page which states Enter Box 20 Info. When I enter the code Z there is a box next to the section which states Z-Section 199A Information.  which asks for the amount. On my K-1 for my section Z information it lists a Column A  It states activity description  (Commercial Building )  Then in column A it lists two amounts. The first amount is listed in the section QBI or Qualified PTP Items.  Next to Net Rental real estate income  $6,590.00

Also listed in Column A is W-2 Wages Qualified Property and lists $114,106.00

I have no clue what I am suppose to put in the amount box. 

Also, in Box 20, there is the code AH the same for this there is a box next to the code designation in Turbo Tax that is for the amount. Again with the information listed on my K-1 it lists  two amounts. Interest expense of $2080.00 as well as Adjusted taxable income  $11,419.00 So, once again I am at a loss as to what amount if any I am suppose to enter in this section. 

[DaveF1006 · Accepted solution]

Here is the order that should appear in your return in Box 20

1. if there is a Z, select Z in the drop down and leave the $ blank.
2. Next screen asks about the risk.  indicate you are at risk
3. Then there will be a screen that appears that says, We see that you have 199A income.Here you have three choices to make.  pick one that is applicable to you.

Next screen will say we need some information about your 199A income.  There are 11 choices in this screen to make.  When you select which entries are applicable to you, a box will appear allowing you to enter an amount.

[RReshel1]

Thank you, I was able to figure out were to insert the numbers from your instructions. I do have one more question. While going through the review process of my taxes a question popped up asking if I had a form 1095-A. I did not receive a form 1095-A, however I did receive a form 1095-C Employer-Provided Health Insurance Offer and Coverage.  Can I use this form in place of the 1095-A and if so were do I enter it.

[JohnB5677]

If you had received a 1095-A it was because you were part of the State run program, and would have had to post it.  Since you received a 1095-C you do not have to do anything.  

[Tremco22]

I did just as you said yet my loss for the business becomes disallowed as a passive loss why did that happen

[JeffreyR77]

If you have net rental real estate losses, those losses are passive losses and are not deductible unless you have passive income to offset them.

Passive Activity Loss Reporting

[JeffreyR77]

If you have rental activity losses, those losses are passive losses and are not currently deductible unless you have passive income to offset them.

These losses carryover until a tax period where you either have passive income to offset them or you dispose of the property with the losses.

Passive Activity Loss Reporting