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Level 1
posted Jul 12, 2020 5:30:54 PM

K-1 Box 20 Section 199A Income

I have Box 20 on Schedule K-1 with Z *STMT.  I see that I enter nothing in on the  Box 20 Info and then fill out the "We need some information about your 199A income".  No problem entering the ordinary income, but I don't see how I enter the short term capital gain.  There is a line for 1231 gain, but I think this is for a long term capital gain.

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1 Best answer
Not applicable
Jul 12, 2020 10:07:58 PM

are you sure the stcg is an 199A item.  this would be contrary to the code section and regs. 

from 199A

 The following items shall not be taken into account as a qualified item of income, gain, deduction, or loss:
(i)Any item of short-term capital gain, short-term capital loss, long-term capital gain, or long-term capital loss.

1 Replies
Not applicable
Jul 12, 2020 10:07:58 PM

are you sure the stcg is an 199A item.  this would be contrary to the code section and regs. 

from 199A

 The following items shall not be taken into account as a qualified item of income, gain, deduction, or loss:
(i)Any item of short-term capital gain, short-term capital loss, long-term capital gain, or long-term capital loss.