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Returning Member
posted Apr 5, 2023 11:18:19 PM

How to enter K-1 line 20 code Z=STMT?

I am trying to enter my K-1 line 20 with code Z = STMT.  On STMT, there are a few different properties with each having two lines 1. rental income (loss) and 2. unadjusted basis of assets.  Am I to add all of these values up for the final value of code Z?  

 

I did try to enter all the information on the smart worksheet but at the end of federal review it told me I had not entered a value for code Z.

 

Please advise.

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1 Replies
Expert Alumni
Apr 6, 2023 10:36:06 AM

Do not enter these in the forms mode. Rather than that, do this in the interview section and the value should populate as a in Box 20. To enter.

 

  1. Enter the code Z when you enter the K-1 box 20 screen, but you don't need to enter an amount on that screen.  Continue on, and you'll eventually find the screen  "
  2. We need some more information about your 199A income or loss".  When you check the box next to a category on that screen, a place will open up to enter the amounts from the Statement or STMT that came with your K-1.  T
  3. The applicable category (or categories) on this screen (and the following "Let's check for some uncommon adjustments" screen, if applicable) must be completed in order for your K-1 QBI information to be correctly input into TurboTax. 

 

 

 

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