Schedule K-1 entries

12 replies
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I've entered 199A related info into two separate K-1 forms, and I'm getting an error message that :"Box 20Z has been selected but no Section 199A income has been entered on Statement A". I cannot find a Statement A anywhere.

TurboTax Home & Biz Windows

Anonymous_Answer

Level 15

@toddrub46 wrote:

I cannot find a Statement A anywhere.

Statement A is what you should have received along with your K-1 (or a similar statement with detail regarding the 199A income). You would enter information from that statement in the section immediately following the K-1 entry.

Anonymous_Answer

Level 15

@toddrub46 wrote:

I cannot find a Statement A anywhere.

foghorn51

Level 2

I don't have an y information to put on schedule K-1. Where can I get it? I didn't have any inheritance in 2020.

Irene2805

Alumni - Intuit

If you did not receive a K-1 from an estate in 2020, you can delete the K-1 that may have transferred from last year by following these steps:

TurboTax Online

Click on Federal > Income & Expenses
Under S-corps, Partnerships, and Trusts click on the Start/Revisit box next to Schedule K-1.
On the Tell Us About Your Schedules K-1 screen. Click on the Start/Update box next to Estate/Trust.
You will see the K-1 Summary screen. Click Delete next to the K-1.

TurboTax CD/Download

Click Federal taxes > Wages & Income
Under Business Investment and Estate/Trust Income click the Start/Update box next to Schedules K-1/Q.
Click Yes on the next screen, Schedules K-1 or Q.
On the Tell Us About Your Schedules K-1 screen. Click on the Start/Update box next to Estate/Trust.
You will see the K-1 Summary screen. Click Delete next to the K-1.

@foghorn51

6631 Watson

Level 2

My note from Turbo is that I have a scedule K1 with no entries. I cant find it. I only have two., and I have added them

JohnW152

Alumni - Intuit

You might try deleting and re-inputting the K-1s that you have in the system.

Please see the TurboTax Help article “How do I delete a K-1?” for guidance.

mnfish

Level 2

I have sold an MLP in 2021 that I have held since 2015. I didn't start using Turbo Tax until the 2019 tax year.

Can I enter older K-1 information into Turbo Tax so that any passive losses from previous years are recorded? Previously I had an accounting firm do my taxes.

BSP7

Level 2

Need help with Box 14

A other country

B amount

paults41

Level 2

I have a problem with Schedule K-1 From 1065 for Box 16 code B. When I run the smart check it says I need to correct it. I cannot get it cleared. Is there a problem with your software? I have spent hours trying to figure out how what to do.

Regards, Paul Sorgen

Irene2805

Alumni - Intuit

Box 16 of a K-1 from a partnership deals with foreign transactions. As you were entering the information on the K-1, did you indicate a country for the source of the income? If the income came from more than one country, you can select Various from the drop down list. See screenshot below.