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Business & farm
TurboTax will ask if your Schedule K-1 has a value in box 1, 2, or 3. If your Schedule K-1 has a value in box 2, that is Net rental real estate income (loss).
If you have a code Z (and probably others) in box 20, then when you fill the "Enter Box 20 Info" screen where you list the codes and an amount, select code Z but don't put an amount. When you get to the "We need some information about your 199A income" page, expand the first box that says you have business income (loss) and then you will see the box for your rental income (loss).
‎April 10, 2024
5:31 PM