Where do I look to see what caused code Z* to show up on Form 1065 Schedule K1 line 20?
I've got partner losses and no special credit allocations but the Z* code shows up in line 20 and references a STMT but without a statement number.
I'm directed to screen 20.1 (credits) but there are no credits and there is nothing to edit in screen 20.1; it is blank because I don't have any fuel credits, other credits or credits for holders of bonds.).
Thanks,
CB
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Code Z on Line 20 of Form 1065, Schedule K-1 is triggered by a Sec. 199A transaction. Start by looking at 1099-DIVs which might have Sec. 199A dividends.
Thanks, looking now.
When you look at a partner's K-1, do you see a statement titled QBI Statement A?
Yes, I see it. It shows the loss. I was looking for a schedule z or statement z instead of statement A. Thanks
Basically, Code 20Z gets reported on Statement A.
I have almost the same question. I have code Z with STMT after it. I don't see a statement A as was suggested in other topics related to this. I have what looks like a 199A information, box 20 , code Z.
On the very last page there is a section 199A -Unadjusted basis of assets with a number 2,263. Anyone know how I am to fill out the K-1 information??
Are you preparing a 1040 that has this K-1?
Or are you preparing a 1065?
A 1040
Just checking in to see if there are any answer's. I am filing my 1040 tax returns ( an accountant does our business taxes and I have a K-1 report from that)
I just can't figure out how to get around the STMT
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