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I have a K-1 (1065) with Box 20 Code Z that refers to the statement, which has several numbers on it - which one do I use or do I total them all up?

 
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2 Replies
MaryK4
Employee Tax Expert

I have a K-1 (1065) with Box 20 Code Z that refers to the statement, which has several numbers on it - which one do I use or do I total them all up?

You will enter the Code Z for box 20 and leave it blank--- continue until you see a screen "Let's Work on your 199A Income" - here you will see the different categories from your K-1 supplemental information.

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westie
New Member

I have a K-1 (1065) with Box 20 Code Z that refers to the statement, which has several numbers on it - which one do I use or do I total them all up?

After filling in the K1 it put a figure on box 20 with code "Z"

Should I remove that number and put it in the correct number? Why did Turbo Tax put the figure in?

Do I mess things up if I remove that figure????? I have an Unadjusted basis of assets that is not entered anywhere. The Rental Loss number is listed in box 20 with code Z and not the Unadjusted basis of assets amount.

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