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Shelton-steve-2017
April 10, 2025
Question

How can I choose a correct value for K1 box 20 tag ZZ?K1 details show 5 choices: Avg adj basis, avg acq debt, gross income, other deductions, S/L depreciation

  • April 10, 2025
  • 1 reply
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Turbo Tax looks for single number, which of the 5 is needed?

    1 reply

    DaveF1006
    DaveF1006
    April 10, 2025

    They are all needed. When you report the K-1, you will enter code ZZ in Box 20 and leave the amount blank. There'll be a follow up screen that will appear for you to enter the information needed to complete the entries.

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