Schedule K-1 Box 20 Code Z Section 199A income Information

[Zagros]

When TT reviews my return, it says to complete "Z Section 199A income Information." When I was preparing Wages and Income, I entered the amounts on Schedule K-1 (1065 Form) that I received from Energy Transfer LP. I revisited and checked the entries multiple times to make sure I entered the amounts in the correct boxes. But I cannot pass the Turbo Tax Online review. I am not sure what is wrong and how to correct the problem if there is any issue at all.

I appreciate any help

[DeeJayKay]

It sounds similar to an issue I was having with Box 13 on my K-1s.

[JamesG1]

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.

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

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

@Zagros 

[Kayla37]

When I do that I am able to put in rental income and other income on that page because there are boxes that can be checked for those but... 

I am NOT able to fill in the "UNADJUSTED BASIS OF ASSETS" . Is that not needed even though it shows up on my.Box 20 section Z information on my K1? Or is this an error on the part of Turbo Tax that they forgot to include that option? Or is there a place to put that somewhere else? 

I've looked all over the forms and can't find any info on this so any help would be very appreciated! 

[JamesG1]

UBIA or Unadjusted basis of assets may be entered at the screen We need some information about your 199A income.

@Kayla37 

[skywire]

But what does one do if TurboTax omits the "W-2 wages" and "UBIA" checkboxes here? 

Could this be because I'm using the desktop application rather than online? Does the desktop app have a limitation? To attempt to work around this, I've entered these two values directly in the K-1 form, in Section D1, on the "W-2 wages" and "UBIA of qualified property" lines. One would think that TurboTax would then reflect these in the appropriate spots on Form 8995, but I don't see them there. Below is the list of STMT items from my K-1 (Form 1065). (I'm assuming that "Section 199A Basis" means UBIA. Is that likely correct—could it be anything else?)

[Mike9241]

there are no QBI limitations like you describe in any of the desktop or other versions.  any entry on line 20 code Z is only so Turbotax later asks about the 3 components income. wages, UBIA. In forms mode, these entries go on the separate line 20Z (right below line 20) through use of the quickzoom link which you should see in forms mode

in step mode for line 20 code Z just enter the income or loss

then there will be another screen asking 3 questions about 199A (QBI)

then continue on the next page will allow entries for the components (after checking the box there's a drop down to enter the amount

by the way the 751 income (20AB) is also QBI and should be enter on the other income line under the business income line 

[skywire]

I appreciate your attention to my plight. Perhaps I was not clear. I did include Line 20 Code Z in the K-1 interview. The interview is indeed presenting the "We need some information about your 199A income" dialogue in which one checks the applicable checkboxes, each revealing its relevant fields. The problem is that in my case, that dialogue omits W-2 wages and UBIA. Please see the first of the images I included in my Post.

Thanks for what you said about 20AB.

[elestud100]

I followed the instructions above and I still get the same error of no entries on Statement A.  How do I fix that?