Section 199A is blank in Statement A even though sch K1 box 20 has code Z

[awesome1]

I received sch K1 from a syndication. Sch k1 has business income, real estate income, gain, and distributions reported. Sch K1 also has box 20 with code Z but  STMT does not have 199A dividends reported.

What does this mean? Turbotax is throwing an error that I have code Z entered but no 199a dividends reported. How do I get around this?

[tagteam]

Perhaps contact the issuer?

@Mike9241 

[Mike9241 · Accepted solution]

if the activities qualify for 199A, the partnership MUST provide this info on the k-1 because the IRS can check what you enter vs what's on the k-1. so you need a corrected K-1 if there is 199A info which sems likely. did you look on the back of the k-1?. 

not sure what you mean by 199A dividends. Only certain REIT dividends qualify for 199A. they would be included on 9a and possibly 9b and the amount would be 1 of the 20Z items - separately reported. 

business 199A info must be reported separately form real estate 199A info because Turbotax requires each activity - line 1 and line 2 along with the relayed 199A info to ne entered on separate k-1s.

gains are never 199A income and distributions reduce your tax basis and are neither income nor expense so also are not 199A items

[awesome1]

I did receive a K1 from the partnership. On line 20, I see there is a code Z. on the back of K-1, I see the following:

Line 20, Code Z - Section 199A information [Form 8995 or Form 8995-A]

I did not receive any form 8995 but there is Statement A which does not have anything for Section 199A.

Should I be expecting form 8995 or a corrected Statement A from the partnership?

[Mike9241]

the 8995/8995A is the form included in your 1040 where the199A is calculated based on all 199A entries throughout your return.  are there numbers on lines 1,2 or 3 of Part III of the k-1. if not, it's doubtful that their is any 199A info.  if there i, contact the partnership.

[awesome1]

Yes, there is business income (line 1) and net rental real estate income (line 2) on my return. 

Can the section 199A be derived from these lines or is it something the partnership needs to include in Statement A?

[JHSHD]

That is a really unhelpful answer to what is really a software problem in Turbo Tax.  

This has been blocking my filing for the past two hours, and I am going nuts trying to fix it.  I initially didn't put in the gobbledegook information from my K-1 in Box 20, Item Z, because it totally doesn't matter -- all of the income derives from a SSTB, the income is pretty high, and therefore there won't be any 199A deduction.  When the software wouldn't let me file with that box blank, I filled in the information that went onto a worksheet, but somehow it didn't get onto "Statement A," and I can't find any way to reach "Statement A." I did get to something that looked like it was supposed to be populating from the workbook I had been in, but it wasn't, and it wouldn't let me enter the information directly on the form.  It's tremendously frustrating, because it has absolutely no relevance to anything.