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Level 1
posted Mar 15, 2025 1:34:56 PM

2024 Schedule K1 1065 Box 20 Code Z

Continuously getting an error...Sch K-1 Wks-Partnership (NAME): Box 20 Code Z has been selected but no Section 199 A income has been entered on Statement A.

 

There is a section A but no statement A.... Any ideas?

0 2 720
2 Replies
Expert Alumni
Mar 16, 2025 7:07:46 AM

At the screen Enter Box 20 info, you likely need to select code Z Section 199A information.  No value needs to be entered.  Click Continue.

 

At the screen We need some information about your 199A income, select the box to the left of the line to open up an entry box.

 

You may need to enter the following information:

  • Ordinary business income (loss) from this business,
  • W-2 wages for this business, and
  • UBIA of qualified property for this business.

Enter these values for the qualified business income deduction to be calculated.

Level 1
Mar 19, 2025 9:19:28 AM

Thank you!