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Level 1
posted Sep 14, 2024 9:07:17 AM

Confusing question filling out line 17 of K-1 for an S-Corp

For box 17 I have boxes A with an amount, V as STMT, AC as STMT, and ZZ as STMNT.  Following the directions online, I have filled out box A with the amount, box V as empty field, box AC as the average gross receipts of the previous 3 years, and box ZZ with the amount shown on the statement provided.

 

When I click "Continue" from this screen, I'm presented with the next screen which has the form "Fill in any of the following details regarding the $0 you entered on box 17, for Codes AJ through ZZ."  There are two columns provided to enter amounts and descriptions.  What is this referring to?  The only field I entered a value that could be considered 0 is for box V which I left empty.

 

Thank you!

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1 Replies
Level 15
Sep 14, 2024 9:49:46 AM