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Investors & landlords
I have the same issue as the OP. My K-1 just shows "STMT" in the Box 20 Code Z line. The statement included with my K1 lists a UBIA value.
If I leave Code Z off of my Box 20 entry, I'm later asked if I missed Code Z, and to answer yes even if my K-1 doesn't have Code Z in Box 20:
When I get to the end of the Federal section, and the software checks for errors, it comes up with one error, this:
I've put 0 on the entry form for Code Z, and tried random numbers as well. Nothing seems to make this form happy.
Other conditions that may or may not affect performance are:
This is for an LLC K-1
Income is all real estate rental
Tenant is a business that I own and participate in
Special handling is required
‎April 3, 2024
4:51 PM