grandwave22
Returning Member

Self employed

I don't believe AJ is part of 199a. Right click on amount field for code AJ and use "Add Supporting Details" for each separate AJ amount.

 

Per the K-1 directions box 20: Code AJ. Excess business loss limitation. If the partnership has deductions attributable to a business activity, it'll provide a statement showing your distributive share of the aggregate gross income or gain, and aggregate deductions, from the business activity of all of the partnership's trades or businesses. You can use this to figure any excess business loss limitation that may apply. See section 461(l) and Form 461 and its instructions for details.

 

Form 461 (Only applies over a certain limits for single or joint filers)

Excess business losses.

Excess business losses are now computed without regard to any deduction allowed under section 172 or 199A and without regard to any deductions, gross income, or gains attributable to any trade or business of performing services as an employee.

 

How to use AJ with regard to Form 461 is a good question not addressed since TurboTax does not support that form. Maybe next year.