K1 Box 20 code Z

Forum|Forum|4 days ago
September 19, 2026
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The turbo tax software has a single row entry to Box 20 Code Z

However, my business has provided a full statement. How do I enter this information into Turbo Tax

Mike9241

Level 15

20N is not used by TurboTax it is already included in determination of rental income on line 2

from k-1 instructions

Code N. Business interest expense (BIE). For tax years beginning after November 12, 2020, the partnership will report your share of the partnership’s deductible BIE for inclusion in the separate loss class for computing any basis limitation (defined in section 704(d) and Regulations section 1.163(j)-6(h)). This information is necessary if your losses are limited under section 704(d). Deductible BIE is reported elsewhere on Schedule K-1 and the total amount is reported here for information only and was already included as a deduction on another line of your Schedule K-1. Included in the code N information is a statement providing the allocation of the BIE already deducted by the partnership by line number on Schedule K-1.

for 20z enter the income number TurboTax uses this entry solely to ask about199A items later on in the app

the 3 - 199A items in your situation that will be ask for later in the app are 1) income/loss, 2) wages and 3) unadjusted basis of assets thought TurboTax will use the term UBIA.

Mike9241