I am using TurboTax business desktop and trying to file my 1065. My partnership was issued a K1 by the real estate company we invested in, which has a Box 11 code ZZ amount, and the additional information section describes it as LAND LEASE.
When I enter the Box 11 ZZ amount in TurboTax, it is not using it in my return anywhere. I tried the Forms mode, but it says "* Not provided for in program. Manually enter on appropriate tax form." It lets me do a QuickZoom on Box 11 Code S, which I believe is incorrect as this is not capital gains. Which form/section should I enter this in?
Please help.
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You will need more information for the amount in Schedule K-1 Box 11 Code ZZ. "Land Lease" is not a deduction listed in the instructions for this K-1. Contact the company that provide the K-1 and ask for guidance on where to report this amount.
You will need more information for the amount in Schedule K-1 Box 11 Code ZZ. "Land Lease" is not a deduction listed in the instructions for this K-1. Contact the company that provide the K-1 and ask for guidance on where to report this amount.
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