To complete the Box 11 Code ZZ, you will need to access the K-1 Addl Info worksheet using Forms Mode (available only in TurboTax for Desktop). After you open K-1 Partner for this investment, look for the QuickZoom button under Line 11.
This opens the additional info worksheet where you can enter a description and the amount for Code ZZ. Scroll down to Box 11 Code I, L to R, and ZZ: Other Income. The box for Line 11 should be red. This is the line to use for your entries.
Now go to Schedule E, p2, Line 18 column (k) should display the amount from Box 11 Code ZZ.
Please clarify the Code used for Schedule K-1 Line 11. Some codes are handled differently than others.
The description for Box 11, Code ZZ is shown below. For this reason you must have a statement that accompanied your K1 to explain what the amount listed. If you are unable to locate the statement, please contact the company or person who provided you your K1.
It's very common to have boxes that require explanation statements for the partners to know how to treat an entry on the tax return. Please update here when you have more information.
I have the statement for box 11, code ZZ and attached the information including the explanation into Turbo Tax just as i have in prior years. The prior years worked exactly as they should. 2024 program is not carrying it into page two of Schedule E. Why is 2024 not functioning while previous years did with the exact same input?
Can you clarify what information you are inputting for the code ZZ and what line numbers you are looking for it to show up on the Schedule E page two? Page two typically only shows the partner's share of the partnership income or loss:
As in your example; that is exactly how the data appeared on page2 schedule E in prior years. Here is an example of the input:
IN THE STEP BY STEP SCREENS:
ENTER BOX 11 INFO
Fill in the CODE and the DOLLAR AMOUNT reported on BOX 11 of your Schedule K-1.
Note: Enter losses as negative numbers.
ENTER CODE: ENTER AMOUNT:
ZZ - Other $1
CONTINUE
Please clarify which version of TurboTax you are using: Online or Desktop? Windows or Mac? If Online, which browser?
This information will help us confirm the experience you describe.
VERSION TURBOTAX DESKTOP PREMIER TAX YEAR 2024 - WINDOWS DESKTOP
To complete the Box 11 Code ZZ, you will need to access the K-1 Addl Info worksheet using Forms Mode (available only in TurboTax for Desktop). After you open K-1 Partner for this investment, look for the QuickZoom button under Line 11.
This opens the additional info worksheet where you can enter a description and the amount for Code ZZ. Scroll down to Box 11 Code I, L to R, and ZZ: Other Income. The box for Line 11 should be red. This is the line to use for your entries.
Now go to Schedule E, p2, Line 18 column (k) should display the amount from Box 11 Code ZZ.