Get your taxes done using TurboTax
You may need to do additional work to complete this section. To enter the information, go to;
- Go to federal>wages and income>>Schedule K1
- Enter information on your form in accordance with the questions asked.
- After entering the information regarding your K-1. Enter information if any in Boxes 1,2, and 3. Check the box that indicates there are amounts in more than Boxes 1,2, &3.
- Check Box 20 and press continue.
- Pick code Z from the drop down, if there is no amount to enter next to it, leave blank. If there is a 0, remove it. Turbo Tax will determine that amount from the questions that follow. press continue.
- Continue through the questions. Be sure to mention that your investment is at risk.
- And then continue through the questions. As I mentioned above, some of the information required to complete section 20 is mentioned in the supplemental statements that came with the K-1.
- The place to enter the UBIA is in a screen exactly the the screen shown below.
If you did this correctly and still receive errors, please reach out to us. You may have recorded this somewhere else but the steps that i outlined are correct for reporting this correctly.
