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Level 1
posted Mar 21, 2024 7:15:54 PM

Schedule K-1 1065

Part III Line 20 has three standard Entries, A, N,V  These are followed with a 4th "*"  STMT .  There is another question about this.  But none of the answers exactly address the "STMT"  

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1 Replies
Level 15
Mar 21, 2024 10:10:46 PM

20A is not used by Turbotax

20N is complicated since it refers to business interest expense already included on another line of the k-1

see 1065 K-1 instructions

https://www.irs.gov/pub/irs-pdf/i1065sk1.pdf 

20V is Unrelated Buisness Taxable Income that is not applicable to individuals

 

what seems to be missing is 20Z info 9and maybe more) that relates to the QBI/199A deduction. look for it on the back of the k-1 and any other pages included with the k-1. if you don't see it call the partnership.