3282982
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Line 20 on my K1 has a statement with K-1 codes do I need to list them separately

I put in all the information on my K1 statement but I keep on getting a message that I need to review 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
JamesG1
Expert Alumni

Line 20 on my K1 has a statement with K-1 codes do I need to list them separately

Some preparers of the K-1 form will include the Section 199A information on a separate statement called a Statement A.

 

Enter IRS form K-1 (1065) information at the screen Enter Box 20 info,

 

  • Select code Z Section 199A information.  Do not enter a value to the right.
  • Click Continue.
  • At the screen We need some information about your 199A income, you will likely enter the following information: 
  •     Ordinary business income (loss) from this business, and/or
  •     Rental income (loss).

Enter these values for the Qualified Business Income Deduction to be calculated.

 

It is possible that additional information may need to be entered.  Click the box to the left to open up entry boxes.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question