Question

Schedule K-1 1065

Forum|Forum|2 years ago
March 22, 2024
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Part III Line 20 has three standard Entries, A, N,V These are followed with a 4th "*" STMT . There is another question about this. But none of the answers exactly address the "STMT"

M

Mike9241

20A is not used by Turbotax

20N is complicated since it refers to business interest expense already included on another line of the k-1

see 1065 K-1 instructions

https://www.irs.gov/pub/irs-pdf/i1065sk1.pdf

20V is Unrelated Buisness Taxable Income that is not applicable to individuals

what seems to be missing is 20Z info 9and maybe more) that relates to the QBI/199A deduction. look for it on the back of the k-1 and any other pages included with the k-1. if you don't see it call the partnership.