K-1 Box 17 code AJ

If you follow the steps below, the information from Schedule K-1 Box 17 Code AJ will appear on an Additional Information worksheet as part of your return. How you use this information is left for you to determine and enter as appropriate. Note that Code AJ is for Excess Business Losses, which would be used only if your net losses from all businesses are more than $289,000 ($578,000 if filing a joint return). If this doesn't apply to your tax situation, you may completely omit the following entries.

1. Working through the Schedule K-1 entry screens, check the box for Box 17.
2. Continue to the page to Enter Box 17 Info.
3. Choose AJ - Excess business loss limitation from the drop down.
4. Do not enter an amount here.
5. Continue to the page to Enter Other Information Detail.
6. In the section under "Description", enter the Supplemental Information provided with your K-1. Choose relevant descriptions then enter the amount for each line.
7. Continue to back to the K-1 Summary page.

You can review the result using Forms Mode.

1. Find K-1 Partner [name of K-1] in the forms list on the left.
2. Click on K1P Addl Info 1 under that form to open it in the large window,
3. Scroll to the bottom of the form to Code AH to ZZ: Other Information.
4. Confirm that your entries for Box 17 Code AJ appear on Line 6.
5. Click Step-by-Step to return to the main screens.