Hi Patricia,
Thank you for helping me yesterday on K1 Box 20 AJ. Now I have that done. Today's question is about K1 Box 20 Z. I do not have a Section 199A in my K1. Instead I have in my K-1 the following:
Statement A – QBI Pass-through Entity Reporting (Schedule K-1, Box 20, Code Z
This has an entry for Rental Income which is a loss and an entry for Section 1231 which is a gain. I also has an entry for UBIA of qualified property which is a gain.
When I entered the UBIA on my TurboTax for Code Z and did a smart check, it is saying I need to report info from Section 199A, but again I am not seeing a part of my K1 with this title.
I also have a Schedule K-3 that is part of my K-1 and I am not seeing any questions as I am filling out the info about my K-1 about a K-3. There are a lot of numbers on the three pages of K-3. Not sure if these need to be addressed with my taxes.
As always, thank you for your help.
