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Level 2
posted Apr 20, 2023 6:01:22 AM

K-1 with Statement A without section 199A

I received a K-1 with box 20 Code Z and 199A attached. But when I input this K-1 info to my LLC, I entered the same info at box 20 with Code Z. It only leads me to Section A. In Section A, it also has income and UBIA info. But not asking me for 199A information. Where and how do I input 199A information? 

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1 Replies
Level 15
Apr 20, 2023 8:59:57 AM

199A can consist of from 1 to 3 numbers each must be entered separately on the appropriate line in the 199A/QBI section of the k-1 20Z is not used. 1) business income 2) w-2 wages, UBIA (unadjusted basis immediately after acquistion (The 199A Unadjusted Basis is (a) the original cost of assets that were placed in service by the business in the past ten (10) years and still used by the business without regard to whether the asset has been fully depreciated or otherwise subjected to section 179 or bonus depreciation treatment …