My 1120S box 17 has data for codes A, B, V, W, and X. A and B are easy, and I combined the data for code V to provide the entry for Turbo Tax. Code W is irrelevant, as that's for W-2 wages, which don't apply to this real estate K-1. Code X says "STMT," and the statement shows X as Unadjusted Basis. Where do I enter that number on Turbo Tax?
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Enter the numbers from the K-1 on the K-1 entry sheet exactly as they appear on the K-1 form you received. TurboTax will take care of transferring the numbers to the appropriate place in the return.
To enter information from Schedule K-1 (1065) in the CD/Download versions of TurboTax, please follow these steps:
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