On my Schedule K1, Section 199A, Box 20, Code Z, there is a line item: Unadjusted Basis of Assets. Is that the same as UBIA of qualified property for this business?

658

Expert Alumni

Jul 4, 2020 11:31:24 AM

Yes, the Unadjusted Basis of Assets amount goes on the line for UBIA of qualified property line. It is entered on this screen (see last line on that screen):

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On my Schedule K1, Section 199A, Box 20, Code Z, there is a line item: Unadjusted Basis of Assets. Is that the same as UBIA of qualified property for this business?