PatriciaV
Expert Alumni

Get your taxes done using TurboTax

Are you seeing an error regarding "gasification" or is the program asking for "additional information" for these codes from Schedule K-1?

 

For the "gasification" message, delete Form 3468 after you delete the K-1 with Code AG and before you re-enter the K-1. You can do this using Forms Mode.

 

If you're asked for additional information, you may need to report the amounts from Codes AE and AG on a different form. If you do so or are not required to file the info from either code, remove the code (and amount) from your K-1 entries.

 

From the IRS Instructions for Form 1065 Schedule K-1 Box 20 Code AE: "Report the amount of excess taxable income on Form 8990, Schedule A, line 43, column (f), if you're required to file Form 8990. See the Instructions for Form 8990 for additional information."

 

See the IRS Instructions for Form 1065 Schedule K-1 Box 20 Code AG on how to use the information provided by the partnership.

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