AnnetteB6
Employee Tax Expert

Get your taxes done using TurboTax

Items entered on line 2 of the K-1P for Code ZZ must be entered manually, they will not transfer to another form in your return automatically.  You generally have to look at the K-1 instructions to determine what the value represents and then add it to your return on the appropriate form.

 

In your case, you stated that it represents a passive loss that should go to Form 8582.  One way to have this value flow to Form 8582 is to create a duplicate K-1 in your return by entering only the heading information and a single entry in the data section of the K-1.  Enter the loss in box 1 for business income/loss in the duplicate K-1.  Then, the loss will flow to the Form 8582 to offset any passive income being reported.

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