clintmcs
New Member

For a rental property S corp owned with siblings, the K-1 has a number in Box 17 with code X, which is for "Unadjusted Basis." Where do I enter this in Turbo Tax?

My 1120S box 17 has data for codes A, B, V, W, and X.  A and B are easy, and I combined the data for code V to provide the entry for Turbo Tax.  Code W is irrelevant, as that's for W-2 wages, which don't apply to this real estate K-1. Code X says "STMT," and the statement shows X as Unadjusted Basis.  Where do I enter that number on Turbo Tax?