You'll need to sign in or create an account to connect with an expert.
You refer to 'post 7'? Please clarify.
Does your partnership K-1 report Section 199-A income on line 20 code Z? Does the software wants you to enter the information that will compute the qualified business income deduction?
To enter partnership income from a K-1, follow these directions.
Change the Z to AH. TurboTax does not like the Z
You need to report your Schedule K-1 as it appears on the form, meaning, if you have code 20Z enter the 20Z then progress through the interview process in TurboTax. The next screens will ask you about your Section 199A Qualified Business Income to determine if you qualify for the deduction. If you change the code, you could be instigating contact from the IRS, because your return doesn't include the expected deduction. Code AH is informational only.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
cleiva
New Member
brengaines63-gma
New Member
lac528
Level 2
Taxpayer13
New Member
Taxpayer13
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.