1065 K-1, Box 20 Code Z with STMT amount to be entered in TurboTax

I am assuming that for a "1065 K-1" with a Box 20 item that shows a code "*Z | STMT" but it leaves the amount blank, that I should enter into TurboTax a subtotal of the income and loss items listed in Statement A under section labeled "QBI or qualified PTP items subject to partner-specific determinations:" to accurately reflect my share of QBI for the QBID calculation. IS THIS CORRECT?

A short time later TurboTax will ask me about the other items on Statement A for W-2 Wages and UBIA of qualified property.

1100

Expert Alumni

Mar 3, 2025 2:21:33 PM

You are correct. Then proceed further within the software.

In TurboTax Premium Online, at the screen We need some information about your 199A income,

Select the box to the left of the appropriate income, W-2 wages, and UBIA of qualified property.
Boxes will appear where you may enter the numbers reported on Schedule A.

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1065 K-1, Box 20 Code Z with STMT amount to be entered in TurboTax