I am a single member LLC. I received a K-1 (1065) for rental income that I own 25% . On the K-1 in Box 20 it says Z "STMT".
On the statement it says - Section 199A Box 20 Code Z
Description:
Rental Income - $4353
Unadjusted Basis of Assets - $89504
What do I enter in TurboTax K-1 box 20?
Lastly is this income QBI because it is reported in box 20 as "Z"?
Thank you for any input.
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don't bother with box 20 on the k-1 input. the info goes nowhere. there is a section D1 on the input form where you enter the income and asset # - UBIA (the section says shareholder but it should also say partner/member).
also review section D2 to see if there's anything that applies.
I'm sorry I'm missing something. I dont see D1 or D2 on the K-1 form.
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