Trying to get this done before Milton takes out the internet!
Where would I find the data values for codes in block 17 of a K-1 for1120s ? I can't find the source for the values needed for codes AJ, V The only good value I found was for AC - The K1 form I received had those codes in block 17 and included a page 2 Supplemental Information with the following "Other information" for block 17 -
AC Gross receipts for section 448(C)........ 14,500
AJ Aggregate business activity gross income ......... 14,500.
AJ Aggregate business activity Total Deductions .......9,957
There was no mention of code V that I could find in any statements attached to the K-1
Turbo Tax defines the AJ code like this:
AJ Excess Business loss limitation - I find no references to this in the return or k-1
The ONLY code that I can find a source for in the statements attached to the K-1 is AC .
Which value should I use for the AJ value when Turbo Tax asks for it, the 14,500 or the 9,957?
Can I use 0 for the V code value if there is no statement with the needed data on the K-1?
What happens if I just ignore the two codes (AJ and V) I'm having trouble and just use the AC code?
This is driving me crazy, PLEASE help!
