- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Form K-1 199A entry
I received K-1 for my investment in a company. The provider has mentioned "STMT" in line 20 with code Z. This is how it looks on my K-1.
Details has following three rows
- Trade or Business Ordinary Income
- Farm Ordinary Income
- Farm Unadjusted Basis of Assets
I read in the turbotax community forum that in this situation, leave value for code Z blank and proceed. That's what I have done.
When I reach 199A information section on Turbotax, I have entered #1 and #2 in line Business Income (loss) and have entered #3 UBIA of qualified property.
Is this correct way to enter this information?
Thanks.
March 28, 2023
6:10 PM