How to enter Section 199A information?

[natereed]

I have code "AH*" and value="STMT" in Box 20 of my K1.

The attached "Partner's Section 199A Worksheet" has these values:

  Net rental income (loss)

  W2 wages 

  Qualified Property

In the TurboTax questionnaire, there is a checkbox for "UBIA of qualified property" (Unadjusted Basis Immediately After Acquisition).  Is this the same value as Qualified Property? 

[tagteam]

Although it could very well be, you should check with the issuer of your K-1.

[natereed]

The CPA that generated the K-1 for the investment sponsor won't answer my questions. 

Short of hiring a CPA (which defeats the purpose of doing my own taxes), is there a resource that explains this?

[tagteam · Accepted solution]

See https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-provision-11011-section-199a-qualified-business-i...

It is most likely UBIA that was shortened on the statement you were issued.