Question

Box 20 code z has been selected but no section 199a income has been entered on Statement A. How do I access statement A?

Forum|Forum|5 years ago
April 11, 2021
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TurboTax Self Employed Online

Code Z in box 20 reports your qualified business income (QBI) . You often enter the same figure reported in box 1 to 3 of your schedule K-1. It represents the portion of your income that qualifies as QBI, which can allow you a deduction on your tax return.

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W

whitneytfoster

Ok, but even with an amount entered in Box 20 for code Z, I still get that message. How do I access Statement A? I tried double clicking on the field that contains the amount for Box 20 code Z and filling that in, but I still get the same error.

J

JamesG1

Enter IRS form K-1 (1065) information at the screen Enter Box 20 info,

Select code Z Section 199A information. Do not enter a value to the right.
Click Continue.
At the screen We need some information about your 199A income, you will likely enter the following information:
Ordinary business income (loss) from this business, and/or
Rental income (loss).

Enter these values for the Qualified Business Income Deduction to be calculated.

Some preparers of the K-1 form will include the Section 199A information on a separate statement.

It is possible that additional information may need to be entered. Click the box to the left to open up entry boxes.