K-1 Line 17 Code AC "STMT"

[fjames21]

I've seen other responses to what to do with the K-1, Line 17, Code AC "STMT" but I still don't follow exactly what I should be putting into TurboTax for this. It never prompts me to put anything in to TurboTax besides the initial amount that it asks. I have the "receipts" listed for years 2020, 2021 and 2022 in my Statement but don't know what, if any, of that I should enter into the TurboTax online program. 

[PatriciaV]

According to IRS Instructions for Form 1120S Schedule K-1 Box 17 Code AC:

"Use the gross receipts amount to figure the business interest expense you can deduct, if applicable. See section 163(j) and the Instructions for Form 8990 for details."

TurboTax does not support the automatic entry to Form 8990. You would need to enter this manually using the form from the IRS. See About Form 8990, Limitation on Business Interest Expense Under Section 163(j).