turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Attend our Ask the Experts event about Tax Law Changes & Forms (2024) on Mar 19! >> RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

zzyzx7105
Returning Member

1065 K-1, Box 20 Code Z with STMT amount to be entered in TurboTax

I am assuming that for a "1065 K-1" with a Box 20 item that shows a code "*Z | STMT" but it leaves the amount blank, that I should enter into TurboTax a subtotal of the income and loss items listed in Statement A under section labeled "QBI or qualified PTP items subject to partner-specific determinations:" to accurately reflect my share of QBI for the QBID calculation.  IS THIS CORRECT?

 

A short time later TurboTax will ask me about the other items on Statement A for W-2 Wages and UBIA of qualified property.

x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Reply
JamesG1
Employee Tax Expert

1065 K-1, Box 20 Code Z with STMT amount to be entered in TurboTax

You are correct.  Then proceed further within the software.

 

In TurboTax Premium Online, at the screen We need some information about your 199A income,

 

  • Select the box to the left of the appropriate income, W-2 wages, and UBIA of qualified property.
  • Boxes will appear where you may enter the numbers reported on Schedule A.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question