The K-1s have been a real headache, but I think I've about got it.
First, the SUN K-1 had data in box 1 and 2, but the amount in box 2 was only $1. I created two K-1s for SUN, but I wasn't sure which values in the other boxes were associated with Box 1 or Box 2. Since the value in Box 1 value was 10X the value in Box 2, I associated all other boxes with the Box 1 data.
After I got all of the data entered, Turbotax gave me errors. I contacted live help, and the person helping me couldn't figure out how to clear the errors associated with box 20, so they directed me to a CPA.
The problem I was having is value in Box 20, Code Z was a negative number. The CPA said that the amount reported in Box 20 Code Z was used for a Qualified Business Income deduction, and it only applied if the amount was positive. I removed the Box 20 Code Z line, and the errors went away.
The other thing I discussed with the CPA was that since the SUN K-1 had data in Box 1 and 2, but the other values were not broken out as to what they were associated with aBox 1 or Box 2, I could combine them into a single K-1 entry. The value in Box 2 was only $1, so it would have little effect on the taxes owed.
@nexchap
