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Level 2
posted Feb 10, 2020 12:05:01 PM

RESOLVED: TurboTax Home and Business - K1 Entry Not Working

I am entering a K1. Checked box 20 because my K1 says Z and STMT in that box. I tried to enter STMT, but it would only take a number. I went back and tried to uncheck box 20, so I could complete my return, but it will not uncheck when I click on it. All other number are clickable: click once to check the box, click again to uncheck the box. Box 20 is not working? Can someone help me with this?

0 3 2320
3 Replies
Level 15
Feb 10, 2020 12:35:59 PM

You need to enter a number in that box, not letters (including "STMT"). The number can be found (or should be) on a statement (or supplement) that accompanied your K-1.

 

If you want to uncheck the box, you should be able to do so in Forms Mode (clear any entries for that line).

Level 2
Feb 10, 2020 1:03:06 PM

Thanks, I was able to clear it from forms.

Blessings,

John

Expert Alumni
Feb 10, 2020 1:19:54 PM

You may want to revisit this. Especially if you are reporting income from this K-1. Box 20 includes codes which may make you eligible for the Qualified Business Income Deduction. In your supplemental statement you may find multiple box 20 codes and dollar amounts.Particularly Code Z and Codes AA through AD

 

Qualified Business Income Deduction