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1065 K-1 BOX 20

NJ1
Level 1

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?

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sm965897
Employee
Employee

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. 

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2 Comments 2
sm965897
Employee
Employee

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. 

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pm27
Employee
Employee

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

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