About K-1 section 20-Z

Forum|Forum|4 years ago
April 2, 2022
3 replies
36 views

Hello, in my K1, have content in line 20, and type is marked Z, and am advised to refer to statement. I understand Z corresponds to 199A and the K1 "Schedule of Activities" QBI section (corresponds to 20z) has 3 non-blank rows: 199A W-2 wages, and 199A unadjusted basis. Am I expected to add all these 3 numbers for Turbo-Tax Box 20 info?

Thanks!

Best answer by AliciaP1

No, you should leave the amount box blank. Then as you progress through the entry, there will be specific questions about your QBI information by the line items on your QBI details. This is where you enter the amounts for each populated line.

AliciaP1Answer

Level 13

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Gliang100

Level 2

I enter the information in the section further down. However, at error check TT still ask me to enter an amount" Box 20 Code has been selected but no Section 199A income has been entered on statement A.

Mike9241

Level 15

delete 20-Z. Turbotax only uses it to check if the info is entered in the separate 199A section in Turbotax. as you go through the steps of entering the k-1 data it will ask about 199A /QBI.

Mike9241