Entering K-1 box 20 code z information

[fxprogljr]

I have a Schedule K-1 (Form 1065) with the following entries in box 20:

A  ……3,200

Z …….*STMT

When I look at the attached Statement A, there is an entry for Section 1231 Gain (Loss), but no entry for Section 199A Dividends. So I enter this info in TurboTax for box 20

When TurboTax runs its final check, it tells me there is an error because “Box 20 Code Z has been selected but no income has been entered on Statement A”.  I get this same error if the amount if leave blank or if I insert 0.

What am I missing?

[Mike9241]

box 20 entries are not sufficient. there is a separate section for the k-1 where this info must be entered.  

code z can be up to 3 items and is apparently a separate statement.

1) 199A/QBI income

2) wages

3) UBIA or unadjusted basis (in qualified property) immediately after acquisition.

in my case, the statement for 20Z was on the backside of the k-1 but could be a separate piece of paper.

[fxprogljr]

Thanks for trying to help, but I still must be missing something……again in box 20 of my K-1 there are 2 entries

A……….3200   at the top of box 20 and

Z………*STMT   at the bottom of box 20

And on my STATEMENT A there is only 1 entry.  It is for Section 1231 gain (loss).  I entered that amount when entering Box 20 Info for code Z and I entered it again 3 screens later when it asks for more information about my 199A income on the line for 1232 gain (loss).

But I still get this error when TurboTax runs its final check “Box 20 Code Z has been selected but no income has been entered on Statement A”.

[PatriciaV]

If you are absolutely certain that the supplemental information provided with the Schedule K-1 does not include an amount for Section 199A (which is implied by code Z for Box 20), then you may wish to contact the partnership that sent you the K-1. It's not possible to guess what that entry should be without more information.

[fxprogljr]

well.....see attachments.....they show (I have removed identifying info):

• box 20 from my K-1
• STATEMENT from my K-1
• how I entered Box 20 info into TurboTax
• how I entered additional info about 199A income, and
• the error I get from the final review

the error says "Box 20 Code Z has been selected but no Section 199AA income has been entered on Statement A".

But there is an entry on that line.  What am I missing?

thanks

Frank

[RobertB4444]

As @Mike9241 says above there should be three numbers for your QBI information and you state that there aren't (we can't see attachments).  You should really contact the partnership that you received this from and request a clarifying statement.  This may be a preliminary K-1 while they finalize the return.

@fxprogljr 

[mo7011]

I am having this exact same problem.  Mine is on an "Other deduction".  I have tried popping up the Z form and entering the info there.  Entering the value inline with the code.  Also tried the adjusted value screen.  They all fail with the same error on the check.  My amount is so small the IRS can feel free to spend $10k to chase me for a dollar.  I hit done and bypassed the check.  Probably not an option for others.

I agree,.  This feels like a bug.

[fxprogljr]

well....I struggled with this also.  One of the HELP people I spoke to suggested that when TurboTax shows me the error, I should manually change the Z to AH from the drop down menu.  Once I did that, it passed the final check.......I'm still not sure why .....