Do I input AJ with the same dollar amount on Scheduled K-1 Box 20?

[celias0709]

I have scheduled K-1 in Box 20 showing code AJ with STMT, refers to page 2, which listed AJ for Box 20 with 2 seperate line with the same amount: Aggregate gross income or gain: 13,530 Aggregate deduction: 13,530 When I input dollar amount for Box 20, shall I input 2 seperate line with same code AJ and same dollar amount exactly as listed on page 2? But without explaining line 1 is for gross gain, line 2 is for deduction?

[DianeW777]

Yes, use your statement and the separate codes (A) and (J) and enter the amount beside each one even if they are the same number. If they are clearly marked, each with it's own code, enter what has been reported to you.

• (A) - Investment Income
• (J) -  Look-back interest—completed long-term contracts

[celias0709]

Are you sure using the separate code A and code J for AGGREGATE BUSINESS ACTIVITY GROSS INCOME OR GAIN  and  AGGREGATE BUSINESS ACTIVITY DEDUCTION? Because on the statement both of them are listed with code AJ together only, no seperated code A and code J...?

[PatriciaV]

This information is relevant only if your net losses from all businesses are more than $305,000 ($610,000 if filing a joint return). If this doesn't apply to you, leave Box 20 Code AJ blank (or do not include this code). Since the two numbers you provided net to zero, you can choose to ignore Box 20 Code AJ.