SCH k-1 box 20

[simm1]

Hello, 

I'm trying to submit my taxes for e-file. However, I have a K-1. On box 20 it reads 

Z *STMT

I finished adding the K-1 as instructed. Then it asked me for UBIA of qualified property which i entered. But it doesn't let me e-file and keeps saying that its an error. Any help?

[ThomasM125]

The unadjusted basis of qualified business property (UBIA) comes in to play to determine if there is a limitation on your qualified business income (QBI) deduction based on your overall income. The UBIA calculation includes a figure for the wages paid by the entity. It is possible you were asked what the wages of the entity for 2025 were and you didn't enter that amount. If so, you may have to enter the amount or you may get an error.

Also, the limitation I mentioned only comes in to play if you have income on your tax return of more than $197,300 single filer or $394,600 joint filer. If your income is less than that you can enter $0 for the UBIA entry and that may resolve your issue.