I have a K-1 with multiple 20ZZ amounts (Gross Income, Federal Bonus Depreciation, etc.). Do I do multiple 20ZZ entries in Turbotax even though it says 20ZZ is simply “Other”? Or do I add all the K-1 20ZZ amounts together for one entry in TurboTax?
have no idea what those ZZ numbers represent because it's not a standard code signifiting something specific.
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this is what the iRS instructions say about 20ZZ
Code ZZ. Other. Any other information you may need to file your return not shown elsewhere on Schedule K-1.
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Turbitax can not use the 20ZZ info for anything because it could be for anything.
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This might be info for state returns because none of the terms seem to relate to your Federal 1040.
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contact the partnership for clarification.
@beolein Turbotax can't do anything with the values on 20ZZ because their meaning is going to vary from K-1 to K-1, so it will ignore whatever you put enter. You'll have to determine if any of those values affect your return, and then make sure to enter them in the appropriate sections.