1) line AJ is for excess business losses which TurboTax does not handle IRS Form 461. TurboTax entry not needed
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Who Must File
File Form 461 if you’re a noncorporate taxpayer (including a trust subject to tax under section 511) and either (i) your net losses from all of your trades or businesses are more than $313,000 ($626,000 for taxpayers filing a joint return), or (ii) you would report a loss of more than $156,500 on any one of Form 461, lines 1 through 8.
so you may not have to file this form and thus can still e-file
IRS FORM and INSTRUCTIONS
if required, then your return will have to be mailed since there is no way to attach the form to the TurboTax return.
code N - entry not needed for info purposes only
Code N. Business interest expense (BIE). For tax years beginning after November 12, 2020, the partnership will report your share of the partnership’s deductible BIE for inclusion in the separate loss class for computing any basis limitation (defined in section 704(d) and Regulations section 1.163(j)-6(h)). This information is necessary if your losses are limited under section 704(d). Deductible BIE is reported elsewhere on Schedule K-1 and the total amount is reported here for information only and was already included as a deduction on another line of your Schedule K-1. Included in the code N information is a statement providing the allocation of the BIE already deducted by the partnership by line number on Schedule K-1.
Any EBIE not deductible under section 163(j) will be included in box 13, code K, for inclusion in the basis limitation and isn’t reported here. See Worksheet for Adjusting the Basis of a Partner’s Interest in the Partnership for additional information about computing the loss limitation.
20Z enter just the income or loss. This is so that TurboTax will later prompt you to re-enter the numbers to compute any QBI/199A deduction or loss carryover.
