You should have received with your K-1 a Statement with the information needed. The statement looks like this. If you did not receive this information with your K-1, you need to contact the preparer of the Partnership return to get this information.
the error is while i am trying to prepare my schedule k1 - i answer all the questions on the qualified business Income deductions and it will not calculate an amount it will only put the word STMT under box 20Z do u have any idea what i could be doing wrong
In Box 20, once you put in the code Z, then you click Continue. The program goes through and asks you specifically for the information you see on Statement A.
You do not put an amount in Box 20 for the code Z.
I received the statement that looks like the image posted, and there are a couple of numbers in column A. But, how do I enter this into Turbotax, or convert them to the number I am supposed to enter for K1 line 20 code z. Please help/advise!
Once you put in that you have Line 20 code Z, you continue through the screens and TurboTax shows you additional boxes to put in the information for the information on Statement A.
Just leave box 20 amount blank for the Code Z to get to the next screens.