I have received a K-1 (Form 1065) from EPD. It has a box 20 Code Z1 with a negative value.
The instructions include the note:
Code Z1 – Statement A - Section 199A Publicly Traded Partnership (PTP) Income. Use
this amount to compute your Section 199A Qualified Business Income Deduction.
Generally, you can deduct up to 20% of your qualified publicly traded partnership income.
This amount is reportable on Form 8995. This amount is reported here in lieu of reporting
it on Statement A of the Form K-1. Note this amount does not include Box 20AB, Section
751 gain (loss) from the sale of units, if applicable.
How do I use this in turbotax?
Thanks!
