Schedule K-1 (Form 1065) Box 20 AN Code

Forum|Forum|1 month ago
April 13, 2026
1 reply
0 views

I see code AN:

Code AN. Farming and fishing business.

If the partnership is involved in a farming or fishing business, it will report your distributive share of gross income and gains, as well as the losses and deductions attributable to such business activities. See section 1301.

Similar to Code AJ in the case of:
"However, some partnerships choose to use this code to report Aggregate Business Activity Gross Income and Aggregate Business Activity Total Deductions, which together total Excess Business Losses for Form 461."

Can I just add these together using deductions as a negative number to calculate the AJ field?

PatriciaV

Level 15

Unfortunately, you cannot combine the numbers reported on Schedule K-1, even for the same box number. Each code is specific to how that activity should be reported and handled on your tax return. Enter the information from Schedule K-1 as it appears.

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

user17759351788Author

Level 2

So, enter both Gross Farming Income, and Gross Farming Deductions values that I was given with deductions being a negative number?

PatriciaV

Level 15

Yes, if you have two lines for Box 20 Code AN, enter each one separately. Note that Box 20 is information for your use only. TurboTax doesn't use these entries on your return. If these codes apply to you, you would need to enter this information in the correct area of your return.

For more help, see the IRS Instructions for Schedule K-1 (Form 1065).

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