Miki
Level 1
03-12-2019
09:02 PM
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1065 instructions provide codes for partnerships. For LTD engaged in real estate rental do I input code Z plus AA plus AB. I know that the regulations allow for trade or business treatment for direct investment (assuming certain tests are met. But at the partnership level, I do not think that code Z applies. Rather, I think that the preparer need only input the AA and AB information
- Box 20, new codes have been added for the qualified business income deduction: code Z, section 199A income; code AA,
section 199A W-2 wages; code AB, section 199A unadjusted basis; code AC, section 199A qualified REIT dividends; code AD, section 199A qualified PTP income
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