So, did anyone ever figure this out? Schedule K-1 is arduous to say the least but I hope to figure it out, much like everything else on taxes and a million searches on the internet (why is this so darn complicated?).
Anyway, here's what I started to do:
1. Open Schedule K-1 under forms
Under box 20, there's a quickzoom...to enter information about codes E, T and H, I click on that...
And this is where I get confused.
- On my K-1 hardcopy I received from the company, it has multiple AH entries (20AH1, 20AH2, 20AH3 and 20AH5). And, each has its description which has nothing to do with TT that I can correlate anyway. For example, it says code 20AH1 - Bonus depreciation adjustment for most non-conforming states
- In TT, Under the quickzoom code AH - Other information, I have 1-6 options and #1 says Qualifying advanced coal project credit (3468) and it has sub sections a, b and c. Bottom line, no correlation there.
Should I pick option 1 in TT and enter amount there? The company is in the energy industry so AH seems to correlate with this (coal, gas, etc.) Or just put it under Other (below 5)?
Similarly, should I put 20AH2 on my K-1 in corresponding 2 under TT?
20AH3 under 3 in TT?
20AH5 under 5 in TT?
And so on?
Or, perhaps it doesn't matter at all because as a next step, I imported the txf file from the company's website. When I look at the K-1 after import, none of the AH information came through into TT. Was it simply ignored and TT didn't know what to do with the info or it doesn't matter?
Thoughts?
