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Tax experts/Turbotax employees: Has Turbotax missed the information for Code Z on line 20 of K-1 this year?

I just received my K-1 form for the year of 2020.  I have code Z 1099A amount on line 20 of K-1.

When Turbotax asked me to enter the itemized amount for code Z, I have been confused. Turbotax has the different screen than last year. Did TT miss the 'Rental Income (Loss)' ?   Please see the screenshot below.

I have two incomes listed on the Statement A- QBI Pass-through entity reporting.

 

1. Rental Income (Loss) = $982

2. Unadjusted Basis Immediately after Acquisition= $1,646

 

I would like to know that

1. Why does Turbotax not provide an option for Rental Income this year?

2. For my second income (unadjusted Basis Immediately after Acquisition), should I choose 'Has Other Deduction' option?

 

My Statement A- QBI Pass-through entity reporting:

statementA.png

 

TurboTax 2020 (no rental income option):

K-1.png

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Accepted Solutions

Tax experts/Turbotax employees: Has Turbotax missed the information for Code Z on line 20 of K-1 this year?


@manbeing wrote:

1. Why does Turbotax not provide an option for Rental Income this year?

2. For my second income (unadjusted Basis Immediately after Acquisition), should I choose 'Has Other Deduction' option?


1. Check the "Has business income (loss)" box and you will see a dropdown that includes rental income.

 

2. No, chose "Has UBIA of qualified property".

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1 Reply

Tax experts/Turbotax employees: Has Turbotax missed the information for Code Z on line 20 of K-1 this year?


@manbeing wrote:

1. Why does Turbotax not provide an option for Rental Income this year?

2. For my second income (unadjusted Basis Immediately after Acquisition), should I choose 'Has Other Deduction' option?


1. Check the "Has business income (loss)" box and you will see a dropdown that includes rental income.

 

2. No, chose "Has UBIA of qualified property".

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