Select code Z but leave the amount blank. TurboTax will later present the "We need some information about your 199A income" page where you can mark the appropriate boxes and enter the section 199A details from the Schedule K-1 (Form 1065). TurboTax will use this information to prepare Statement A which will be attached to the back of your tax return.
Revisit the Schedule K-1 entry and make any changes there. To delete the code-Z entry, delete any amount you might have entered for the code-Z entry and change the code-Z selection to the blank item at the top of the selection list.
Statement A is the TurboTax worksheet terminology for the Section 199A information reported on the Statement or STMT for your box 20 code Z. That Statement or STMT comes with the K-1 you received.
In TurboTax Online and TurboTax Download/CD versions, the "Statement A" is the "We need some information about your 199A income or loss" and "Let's check for some uncommon adjustments" screens. Information from that Statement/STMT you received with your K-1 is entered into the applicable boxes of those screens.
Enter your code Z on the "box 20 screen" but you don't need to enter an amount there. Continue, and your next screen should be "Describe the Partnership" and the the next screen should be "We see you have Section 199A income" and then you should get "We need some information about your 199A income", followed by "Let's check for some uncommon adjustments". When you get to those last two screens, when you check the box on a line, other boxes will "open up" to enter the amounts from your Section 199A Statement/STMT.
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