Yes, there is a method of reporting the information that is necessary to complete Box 20 code Z.
- Go to federal>wages and income>Business Investment and Estate/Trust income>Schedule K1
- Enter information on your form in accordance with the questions asked.
- After entering the information regarding your K-1. Enter information if any in Boxes 1,2, and 3. Check the box that indicates there are amounts in more than Boxes 1,2, &3.
- Check Box 20 and press continue.
- Pick code Z from the drop down, If there is no amount to enter next to it, leave blank and press continue. There will be follow-up questions regarding UBIA and rental income plus other information that is listed in your supplemental statement.
- Continue through the questions. Be sure to mention that your investment is at risk.
- Complete the section.
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