Get your taxes done using TurboTax
Follow these directions to report section 199A information from your partnership K-1.
- At the screen Enter Box 20 info, select code Z Section 199A information.
- Click Continue.
- At the screen We need some information about your 199A income, you may need to enter the following information:
- Ordinary business income (loss) from this business,
- W-2 wages for this business, and
- UBI of qualified property for this business.
Enter these values for the qualified business income deduction to be calculated.
IRS Partners Instructions for form K-1 (1065), page 31 states:
Code ZZ
Other
Any other information you may need to file your return not shown elsewhere on Schedule K-1.
There may be additional information that was attached to your K-1 that would explain the code ZZ entries.
