Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Jun 4, 2019 5:06:34 PM

Where do I enter a 401(k) contribution included in Box 20, Code Z of my K-1 in order to receive the deduction?

0 4 2211
4 Replies
Level 15
Jun 4, 2019 5:06:36 PM

Your Schedule K-1 may have been improperly prepared or this amount in box 20 has been provided to you for informational purposes only and is not reportable anywhere on your tax return.  Is this Schedule K-1 from a partnership (Form 1065) or an S corporation (Form 1120S)?  If it's and S corporation, does your W-2 show your elective deferrals in box 12?

New Member
Jun 4, 2019 5:06:37 PM

It is from a Partnership (Form 1065).

Level 15
Jun 4, 2019 5:06:38 PM

Contributions made to your 401(k) in the partnerships plan should have been reported on the Schedule K-1 (Form 1065) in box 13 with code R.  Contact the preparer of the Schedule K-1 for correction.

New Member
Jun 4, 2019 5:06:40 PM

Thanks for your help.