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RDKL
Returning Member

K-1 line 20, Z Section 199A

When I do the final review and also in trying to file I get this message. Sch K1 Wks-Partnerships --- Box 20 Code Z has been selected but no Section 199A income has been entered on Statement A. When I dropdown to the thing to enter it states "no form for individual returns. I am unable to file until I can correct it. This 199A is a investment, I am a Domestic Partner and have entered an amount in box 20 in which I have always other years but I used Turbo Tax Premier previous years. I got this version by mistake. 

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3 Replies
JamesG1
Expert Alumni

K-1 line 20, Z Section 199A

Partnership K-1 box 20 needs to be completed for the software to invoke 199A qualified business income deduction calculation.

  • At the screen Enter Box 20 info, you likely need to select code Z Section 199A information.  I have seen comments that the Amount does not have to be entered but I enter the Box 1 number if a value is not provided.
  • At the screen We need some information about your 199A income, you will likely need the following information:
  • Ordinary business income (loss) from this business,
  • W-2 wages for this business, and
  • UBI of qualified property for this business.
  • Enter these values for the qualified business income deduction to be calculated.
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RDKL
Returning Member

K-1 line 20, Z Section 199A

 The 199A is listed as Publicly Traded Partnership (PTP) income, which is a negative value.

 Ordinary business income (loss) from this business is entered. 

W-2 wages for this business. No information for that listed. 

UBI of qualified property for this business. I do not see anything like that.

As I said I have filled out my K1 the same way for several years only in Turbo Tax Premier, This year I am using Home and Business, this seems to be the problem. as I looked at previous years I find that all is filled in the same.

If you are familiar with the Tax package from Enterprise Products Partners L.P. for Partner's Share of income, Deductions; it may help in what I need to do to get around this. 

DaveF1006
Expert Alumni

K-1 line 20, Z Section 199A

 

Here is the order that should appear in your return in Box 20

  1. if there is a Z, select Z in the drop down and leave the $ blank.
  2. Next screen asks about the risk.  indicate you are at risk
  3. Then there will be a screen that appears that says, We see that you have 199A income.Here you have three choices to make.  pick one that is applicable to you.
  4. Next screen will say we need some information about your 199A income. at the very bottom is a selection that says xxx has UBIA of qualified property.  When you select that, then the screen will prompt you to put in a $ amount. 
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