1065 K-1 BOX 20

[NJ1]

K-1 BOX 20  is automatically filling in (AG)  I have not entered this and have no idea where it is coming from  any help?

[sm965897 · Accepted solution]

This calculates the partner's share of gross receipts based on gross receipts information entered on the main form. This is a new reporting requirement for 2020 that may be required for partners to correctly report business interest expense. More information is provided in the IRS government instructions. 

[pm27]

Schedule K-1 Box  20, Code AG comes from Form 1065, page 4, Schedule K, line 20 E Gross receipts for Section 448(c)