Turbotax does not have the capacity to use the AJ info That's what the * means in TT). It shouldn't matter in this situation. Since your income exceeds deductions you have no excess business loss. The other issue is that Turbotx does not handle form 461 where any business loss limitation would be calculated.

Thank you so much for the info. So, for that amount question TT designated should I just leave it blank? 

Yes, in most cases you can skip entering anything for Box 20 Code AJ.

I entered all 0's for the K-1 line 20 AJ and it still will not file the return. It keeps asking me for a facility registration code for Form 3468 which does not apply to me. Will TT have an update soon? I am getting frustrated with TT this year after using it for the past 10 years. I am thinking of going to another software soon.

Dr. Greg Boothe, CIH, CSP

The best option is to not enter Code AJ for Schedule K-1 Box 20; zeroes won't resolve the error. However, the need for a registration number on Form 3468 is a known IRS issue. If you enter ""TMXXX99XXXXX" on Line 2a, this will allow you to e-file.

@gbootheehs 

if the Schedule K-1 box 20 has code AJ listed with "STMT" , and the gross income is more than the deduction, can we just delete the code on turbotax?

Yes, you can omit Box 20 Code AJ. This information is relevant only if your net losses from all businesses are more than $313,000 ($626,000 if filing a joint return). If this doesn't apply to you, you can leave Box 20 Code AJ blank (or do not include this code).