How do I enter this info from my K-1?

[Sam78]

I thought I had it all correct but then TT asks "You told us you have 199A income or loss. please enter the amounts here" but none of the options match with the above. What do I do?

Box 20:

A 0
V 0
Z 0
* STMT

From "SUPPLEMENTAL INFORMATION AND STATE SCHEDULE":

20AE	Excess Taxable Income	0
20AH1	Gross Receipts for Unrelated Business Taxable Income Purposes	0
20AH2	Gross Deductions for Unrelated Business Taxable Income Purposes	0
20AH3	Federal Reg Bonus Depreciation Adjustment for Non-Conforming States in Ordinary Business Income	0
20AH4	Federal Reg Bonus Gain/Loss Adjustment for Non-Conforming States in Net Section 1231 Gain (Loss)	0
20AH5	Nontaxable Adjustment To Capital	0
20AH6	Entity Level State Income Tax Included in Ordinary Business Income	0

And a second K-1 is similar with this showing in 20:

A 0
N 0
V 0
* STMT

And this in the supplemental info:

20Z1	Section 199A Publicly Traded Partnership (PTP) Income	0
20AE	Excess Taxable Income	0
20AF	Excess Business Interest Income	0
20AH1	Bonus Depreciation Adjustment for Most Non-Conforming States	0
20AH2	Gross Receipts for Unrelated Business Taxable Income Purposes	0
20AH3	Gross Deductions for Unrelated Business Taxable Income Purposes	0
20AH4	Nontaxable Adjustment To Capital	0

And yet another:

A 0
B 0
T* STMT
* STMT

20Z1	Section 199A Publicly Traded Partnership (PTP) Income	0
20Z2	Qualified PTP Item - Section 1231 Gain (Loss)	0
20Z3	Qualified PTP Item - Ordinary Income on Sale of Interests	0

I'm at a loss for how to enter these properly into TT.

Thank you for any help you can provide.

[Sam78]

No ideas? I'd really appreciate the help!

[JamesG1]

There are three different kinds of K-1’s that can be entered into TurboTax software.

• Partnerships/LLCs (form 1065)
• S corporations (form 1120S)
• Estates and trusts (form 1040)

You should be able to read the top of the form and determine which K-1 that you will be entering.

Please follow these directions.

• Down the left side of the screen, click on Federal.
• Across the top of the screen, click on Income & expenses.
• Under Your income and expenses, scroll down to Schedule K-1 and click Edit/Add to the right.
• At the screen Tell us about your Schedule K-1, you tell the software which Schedule K-1 you received.
• For several screens, you will be entering data right off the K-1 form.

At some point, you may have questions about Section 199A income. 

Not knowing what kind of K-1 you are entering, please refer to the links on the page or contact us for further questions.

[Sam78]

Thank you for the help.

They are all Partnerships/LLCs. However, when I get to the 199A info part I get that question "You told us you have 199A income or loss. please enter the amounts here" but I'm not sure what to select as some of the K-1 info doesn't seem to match anything included in that list. I've attached a picture of the list I'm getting.

For the attached picture this is what is listed in Box 20 and the Supplemental Info and Schedule:

Box 20:

A 0
B 0
T* STMT
* STMT

From "SUPPLEMENTAL INFORMATION AND STATE SCHEDULE":

20Z1	Section 199A Publicly Traded Partnership (PTP) Income	0
20Z2	Qualified PTP Item - Section 1231 Gain (Loss)	0
20Z3	Qualified PTP Item - Ordinary Income on Sale of Interests	0

So it seems like the two I have checked would fit for 20Z1 and 20Z2 but I'm not sure what to check for 20Z3? Of course, they are all "$0" so maybe it doesn't really matter? I do want to get it correct though so there are no issues.

[DaveF1006 · Accepted solution]

You could leave 3 blank and you are right, since it is "0" it really wouldn't matter how you answered that question.