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Get your taxes done using TurboTax
1) The Icahn Enterprises website lists several industries, but no service businesses. You may wish to contact IEP investor relations to confirm that it is or is not a Specified Service Business for Section 199A.
2) If the K-1 reports Section 199A PTP income(loss), there should be Statement A in the K-1 package you received. If you are not able to identify this page, contact IEP investor relations to obtain a copy. You won't be able to complete the K-1 entry without it.
3) Yes, the page for Box 20 Other Information is where you enter the detail listed for Code ZZ at the bottom in the blank lines. Descriptions go on the left and amounts in the boxes. Leave the amount box beside Box 20 Code ZZ blank or you will have a forms error.
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March 26, 2024
11:44 AM