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You my friend are the MVP!!!!!! This worked for me!!! Jesus that was exhausting
Thank you, much appreciated
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The signup link has been archived because Code AJ entries are now working for most individual taxpayers. Our tech support team is still working on this issue for those preparing business returns.
I'm having the same two issues — think I may have solved the income / deduction issue but the gasification error has me hung up unable to complete my taxes and file. HELP!
Gasification issue not resolved for me — still a required box...
If you leave the AJ value empty, and using others you add the two AJ values that are on your K1 with the description, the error goes away.
I did that and didn’t have any error.
This is not working for me. I am still getting the gassification questions. I updated today 3/25
Thanks, but I still got the gasification error and had to enter “zeros” as suggested in another post as a work around. Disappointed the TT can’t fix the bug…
A recent update should have resolved this issue, but it may not apply to an existing K-1. You should be able to correct this and delete Form 3468 as follows:
These steps are easier if you are using TurboTax for Desktop, as you can make edits directly in the forms and easily see what forms have errors (red exclamation marks). But it can be done in TurboTax Online.
Additional Information:
This worked for me - Thank you!
Can this be done in the online mode?
Yes, you can enter Schedule K-1 Box 20 Code AJ using the step-by-step interview in TurboTax Online or Desktop. It appears the recent update removed the follow-up questions. Your best option is to add more than one line for code AJ if you have two or more lines in the Supplemental Information that came with your K-1.
How you use this information is left for you to determine and enter as appropriate. Note that Code AJ is for Excess Business Losses, which would be used only if your net losses from all businesses are more than $289,000 ($578,000 if filing a joint return). If this doesn't apply to your tax situation, you may completely omit the Code AJ entries.
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