I worked for a company and received a K-1.
Box 20, Code Z has three entries:
Ordinary Income : (negative value)
W-2 Wages: Amount much higher than my W-2 statement box 1.
Adjusted Basis of Assets: Amount slightly higher than the entry above (W-2 Wages).
The notes in the K-1 only say to consult your tax advisor on the calculation of the QBI deduction.
Any advise on what I need to enter in the turbo tax box?
thanks!
