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Jayk55
New Member

Miscellaneous income unrelated to my llc is showing up in k-1

I have an llc partnership and received the K-1 information which I entered.  I also had a $100 stipend that I entered under miscellaneous income which was unrelated to the partnership.  I can't get past the federal review because it says that I have income that doesn't show on  K-1, Box 20, Code Z. This is showing up in Sections D1 and D2 and names the university that I got the stipend from and is not associated with a K-1.  How can I remove the stipend information from my K-1 forms?

 

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1 Reply
PatriciaV
Expert Alumni

Miscellaneous income unrelated to my llc is showing up in k-1

The SmartCheck message regarding Schedule K-1 Box 20 Code Z relates to Section 199A from Statement A that came with your K-1.  The QBI questions appear after the entries from the K-1 boxes on the page "We need some information about your 199A income.". Be sure you check the box for "[name of partnership] has business income (loss)" and enter an amount in one of the boxes that appear.

 

If that doesn't resolve the error, your best option is to delete Form 1099-MISC entry and run SmartCheck again to be sure the review error is gone. Then re-enter the 1099-MISC and report this as 1) related to your job, 2) one-time income, or 3) self-employment.

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