Schedule K-1, Line 20AH - How to report?

[poiuytrewq0987654321]

On my Schedule K-1, Line 20 lists Code AH *STMT.

The page after the K-3 titled "Federal Statements" lists 

Schedule K-1, Line 20AH - Additional Supplemental Information

ACE Post-1993 Property Depreciation

There is no amount listed. 

K-3 Part II, Section II, Line 33 (Allocable rental expenses—depreciation, depletion, and amortization)

is listed as 45,015. Are these related?

Do I enter a number in TT for Code AH? If so, do I enter 45,015? And do I enter it as a positive or negative number? The K-1 lists a total net loss of -48,995 (K-1, Part III, Box 2 and K-3, Part II, Box 55)

If no number is needed, is there somewhere in TT where I can add the "supplemental information" and would I enter the text "ACE Post-1993 Property Depreciation"?

[VincentL12345]

The ACE depreciation will equal the AMT depreciation for all assets placed in service after December 31, 1993. The Adjusted Current Earnings (ACE) depreciation adjustment is computed as the difference between the Alternative Minimum Tax and ACE depreciation.

The difference occurs when tax return depreciation is different than book accounting depreciation. This creates the AMT adjustment.

Line 20 AH - Other Information

Box 20, Code AH are other items of information not found elsewhere on the Schedule K-1 (Form 1065) Partner's Share of Income, Deductions, Credits, etc. The taxpayer should receive instructions from the partnership needed to address the items contained in this box.

The firm who prepared the Partner's K-1 should include a description of the information and instructions on how to report the information on the Partner's individual return. If the firm didn't include a description or instructions, you must decide where you should report Other Information.

https://turbotax.intuit.com/tax-tips/irs-tax-return/alternative-minimum-tax-common-questions/L50YotK...

https://ttlc.intuit.com/turbotax-support/en-us/help-article/taxation/alternative-minimum-tax-amt-202...

[MarthaT]

Thank you so much for your question

Schedule K1 line 20 is different form Schedule K3. 

Schedule K3 is for foreign income source reporting. 

Schedule K1 line 20 AH *Stmt* is other information and in this case might be Conservation Reserve Program Payment or any other of the following information:

   - Basis in Gasification Property in Advanced Coal Project combined Cycle Property

   - Basis in Other Qualifying Advanced Coal Property Section 48A(d)(3)(B)(ii)

   - Basis in Other Qualifying Advanced Coal Property Section 48A(d)(3)(B)(iii)

   - Basis in Qualifying Gasification Property Where 75% of Emissions are Separated

   - Basis in Qualifying Gasification Property Other Gasification Property

   - Qualifying Advanced Energy Project Credit

   - Advanced Manufacturing Investments Credit

Normally the tax preparer that prepared your form 1065 should have given you a statement with all the information.  If they did not give them to you, it is best that you call them and ask for it.

Hope this answered your question

Thank you so much