How to enter K-1 1065 Line 20 Code AH - Additional Supplemental Information - Analysis of At Risk versus Not At Risk Liabilities

Forum|Forum|6 years ago
March 31, 2020
14 replies
146 views

My K-1 Box 20 has Code AH with "STMT" next to it. On an attached page, there's an explanation of it, which I copied below (I replaced the actual amount with ###,### for privacy purposes). The amount represented by ###,### in the explanation matches the Ending amount of the Nonrecourse Partner's share of liabilities in Part I Box K of the K-1. How should I enter this Box 20 Code AH info into TurboTax? Do I even need to add it? None of the pre-set descriptions on the Box 20 Code AH data entry screen apply to the description in the explanation below. If I need to enter it into the area at the bottom of the Box 20 Code AH data entry screen used for "Other Descriptions", what would I enter? Thanks, in advance.

Schedule K-1, Line 20AH - Additional Supplemental Information
Description
----------------------------------------------------------------------------------
ANALYSIS OF AT RISK VERSUS NOT AT RISK LIABILITIES
AT RISK NOT AT RISK
NONRECOURSE 0 ###,###
QUALIFIED NONRECOURSE 0 0
RECOURSE 0 0

TurboTax Premier Online

Best answer by MarilynG

Just enter your K-1 as shown, with Line 20, Code AH.

You can enter a description in the the 'Other Descriptions' area if you wish, but it will have no affect on your tax return.

Click this link for more info on K-1 Box 20 Codes.

MarilynGAnswer

Alumni - Intuit

Just enter your K-1 as shown, with Line 20, Code AH.

You can enter a description in the the 'Other Descriptions' area if you wish, but it will have no affect on your tax return.

Click this link for more info on K-1 Box 20 Codes.

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ppumgradAuthor

Level 3

That's what I figured but just wanted to make sure. Thanks for the info.

inviktor

Level 2

Hi!

I have exactly the same problem as you, but unfortunately after reading the responses, I still don't know what to do. I have almsot the same as you:

Schedule K-1, Line 20AH - Additional Supplemental Information
Description
----------------------------------------------------------------------------------
ANALYSIS OF AT RISK VERSUS NOT AT RISK LIABILITIES
AT RISK NOT AT RISK
NONRECOURSE 0 ###,###
QUALIFIED NONRECOURSE ###,### 0
RECOURSE 0 0

How do I provide this to turbotax? I can only see "Select Code" to "AH - Other information" in the first column, and then "Enter Amount" in the second. What amount do I provide? I have 6 amounts, 3 for at risk, and 3 for not at risk, most of them 0. So I don't know what do. How did you do it?

Thanks,

Best!

Mike9241

Level 15

They are meaningless from a Turbotax standpoint because Turbotax does not calculate tax basis. Calculating tax basis is your responsibility.

schedule L on your k-1 is supposed to be on the tax basis but the IRS instructions for the k-1 warn that certain liabilities may need to be taken into account and there may be other reasons why it might not be accurate.

your tax basis can be computed using the worksheet on page 3 of K-1 instructions also read what's in the k-1 instructions for schedule L

https://www.irs.gov/pub/irs-pdf/i1065sk1.pdf

Mike9241

inviktor

Level 2

Thank you, Mike! Your reply unfortunately doesn't help me. I need help from a CPA to use the Turbotax Business software just for how to input line 20 AH and Z in part III of 1065 form, as that is what I am using. There should be people specialized in using Turbotax Business software and who know how to read a K1 and provide that info to TurboTax Business, and I will try to find somebody.

Thanks!