ThomasM125
Expert Alumni

Get your taxes done using TurboTax

You would have to check with the issuer of the statement to be sure, but the gross income number would likely be the code Z entry for section 199A income. That is qualified business income that may give you a tax deduction. the code AJ would likely be the deduction for excess business profits. It may decrease the deduction of losses reported on the K-1 form. Put the amounts in the proper box 20 entry for Code Z and Code AJ.

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