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Schedule K-1 Box 20 Entry STMT Number

Hello,
On the Schedule K-1 form, the box 20 has STMT (not number).
I go to the details of the K-1 form and see that there is a section 199A, Box 20, Code Z has the following:

DESCRIPTION                                                    AMOUNT
RENT     SOME PROJECT NAME                   

RENTAL INCOME                                              #####          (Small number)
W-2 WAGES                                                       #####          (Small number)
UNADJUSTED BASIS OF ASSETS                  #####          (large number)

RENT     SOME OTHER PROJECT NAME                   

RENTAL INCOME                                              #####          (Small number)
W-2 WAGES                                                       #####          (Small number)
UNADJUSTED BASIS OF ASSETS                  #####          (large number)

 

Should I put the number in the TT Box 20 code Z, the sum of the two UNADJUSTED BASIS OF ASSETS? 
Or, another number?

Thank you.

 

 

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1 Best answer

Accepted Solutions
ThomasM125
Expert Alumni

Schedule K-1 Box 20 Entry STMT Number

I assume the income from both projects is reported as such on your K-1 schedule. In that case it would be necessary to add the two unadjusted basis of assets together. You enter the combined income for the code Z entry in box 20. Later on another screen you will be asked to enter the unadjusted basis of assets.

 

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2 Replies
ThomasM125
Expert Alumni

Schedule K-1 Box 20 Entry STMT Number

I assume the income from both projects is reported as such on your K-1 schedule. In that case it would be necessary to add the two unadjusted basis of assets together. You enter the combined income for the code Z entry in box 20. Later on another screen you will be asked to enter the unadjusted basis of assets.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

Schedule K-1 Box 20 Entry STMT Number

Thomas,


Thank you very much for your help!

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