On line 20 of K-1 Form 1065 , there is a code AG-Gross receipts for section 448 (c). What does that mean and where do I get these figures?

Did anyone answer?  I have the same problem... what did you do?

Did you ever get an answer to this? I'm filing late and trying to get this done now. Thanks!

Would like to have an answer as well. Do we add up the numbers or take the average! I paid TurboTAX live advice last year, and the guy didn't know either, big waste of money

According to the instructions for filling out Form 8990 Limitation on Business Interest Expense listed here, the amount that would go into this box is the average of the prior three years annual Gross Receipts. To determine the entry, it states you must:

1. Add the gross receipts for the 3 prior tax years, and
2. Divide the total by 3.

@archmail 

Thank you