Happy tax season everyone! I'm stuck this year inputting the details of a K-1. Box 20 has codes "AJ", "N", "Z".
When I select AJ on TurboTax (TT), it only gives the option of "Excess Business Loss limitation" where my K1 indicates two values for AJ on the K-1:
- Code AJ: Aggregate Business Gross Income ~$2k
- Code AJ: Aggregate Business Activity Total Deduction ~$12k
Some answers here on TT it appears this is a known deficiency of TT, and some mentioned leaving AJ blank which I attempted, but that doesn't feel right. When I proceed through the steps to file taxes and get to the review stage I am asked to input "QBI Passive OP Loss" and I'm not sure what to do here. Any help to get me through this and done properly would be greatly appreciated.
Thank you for the support in advance.