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Retirement tax questions
I have the same problem. I'll answer the questions you posed to the original poster with the answers for my case. Perhaps you can help me.
Is this a partnership? YES
Does the K-1 report code Z in box 20 of the K-1? YES
Statement A lists values for the following:
Ordinary business income
Net rental real estate income
Qualified property
Which if any of these values then gets entered into Line 20 Z Section 199A Information?
In the past I have never worried about entering the value since it has been small and has no material impact on my tax bill. It has never prevented me from completing my taxes.
I have other partnership K-1's with Line 20 Z information. The software doesn't complain about lack of a value on those K-1's. I don't know what is different about this particular one that the software complains other than the other K-1's don't have both ordinary business income (actually a loss) and rental real estate income while the others only have rental real estate income.