How should I report a cash adjustment from accrued interest on my Schedule K-1? Is this a QBI or would this be considered "other" income? Box 20, Code Z, 199A is used

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Expert Alumni

Mar 16, 2020 6:50:03 AM

If the amount is reported as box 20 code Z, the number is used in the calculation of your QBI deduction.

After you enter the K-1 code Z for the box 20 screen (net necessary to enter an amount on the box 20 screen), Continue on until you see the screen "We need some information about your 199A income or loss". That screen has boxes for "Other Income" and "Other Deductions" if your amount doesn't "fit" in any other box on that screen (or the following screen "Other uncommon adjustments". Here are the two screens where your code Z statement amounts are entered:

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How should I report a cash adjustment from accrued interest on my Schedule K-1? Is this a QBI or would this be considered "other" income? Box 20, Code Z, 199A is used