I have received K-1s with an amount ib Box 20 for code Z. That code is missing in this years software. I only see a code ZZ. Is there a fix or work around?
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Assuming you are entering Schedule K-1s from a business and are trying to entering them in your individual tax return, you will need to follow these steps. Code Z is available for selection in both the desktop and online versions of TurboTax.
To get to the input, please log back into your TurboTax program.
Also, be sure to confirm you are entering your Schedule K-1 in the correct entity type. Only a partnership Schedule K-1 will have the option to check box 20.
I am using a the business software. I ended up going to the "forms" mode and entering on Section A for the QBI. Thank you for responding.
In TurboTax Business, check the box for Section B1 (Qualified Business Income Deduction) rather than Box 20. A subform will appear that allows you to enter the QBI information under Section A.
These entries may be easier using Forms Mode.
Yes, that seemed to work good.
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