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Entering partnership Schedule K-1, Line 20, Code AH in an individual return

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Entering partnership Schedule K-1, Line 20, Code AH in an individual return

In ProConnect Tax, where do you enter information from the Partnership Schedule K-1, Line 20, Code AH (Code Z for TY2013–17; Code Y for 2012 and prior ), Other Information in an individual return?

Entering Line 20, Code AH

ProConnect Tax doesn't have a specific entry field for Line 20, Code AH, because Line 20, Code AH is where you can enter various Other Information items.

The firm who prepared the Partner's K-1 should include a description of the information and instructions on how to report the information on the Partner's individual return.

If the firm didn't include a description or instructions, you must decide where you should report Other Information.

See IRS Partner's Instructions for Schedule K-1 (Form 1065), Other Information, Code AH for more information.

  1. Under Input Return, select Miscellaneous Forms, then Tax Shelter Statement (8886) to expand the dropdown menu.
  2. From the dropdown menu, select Tax Shelter Statement (8886).
  3. Enter all applicable information as reported on the Schedule K-1 to complete Form 8886.  

For additional information on filling out the Form 8886 disclosure statement, see the IRS Code AH. Other Information, section 3.

  1. Under Input Return, select Taxes, then Other Taxes to expand the dropdown menu.
  2. Select Schedule J, Recapture, Other Taxes from the dropdown menu.
  3. Scroll to the section Other Taxes.
  4. Select the input field for Other taxes (Click on button to expand).
  5. In the Description field, enter Section 409A.
  6. Enter the Amount.
  7. Select OK.

For additional information entering interest and additional tax, see the IRS Code AH. Other Information, section 5.

  1. Under Input Return, go to Credits, General Business and Vehicle Cr.
  2. Under the section General Business, Vehicle and Passive Activity Credits, enter the Name of activity (automatic if blank).
  3. Under the section Credits in the field Form (Click on arrow to select from list), select 4 = Schedule E (partnership).
  4. In Activity, select the applicable activity.
  5. Select the Investment & Research tab.Selecting the Investment & Research tab in ProConnect Tax.
  6. Under the section Investment Credit (3468), scroll to the Coal Project Credit subsection.
  7. Enter the applicable amounts from the K-1 for Form 3468, lines 5a–5c:
    • Basis in integrated gasification cycle property (20%)
    • Basis in investment in coal-based generating technology property (15%)
    • Basis on investment in coal-based generation technology property (30%)

For additional information on entering a qualifying advanced coal project, see the IRS Code AH. Other Information, section 7.

  1. Under Input Return, go to Credits, General Business and Vehicle Cr.
  2. Under the section General Business, Vehicle and Passive Activity Credits, enter the Name of activity (automatic if blank).
  3. Under the section Credits in the field Form (Click on arrow to select from list), select 4 = Schedule E (partnership).
  4. In Activity, select the applicable activity.
  5. Select the Investment & Research tab.Selecting the Investment & Research tab in ProConnect Tax.
  6. Under the section Investment Credit (3468), scroll to the Coal Project Credit subsection.
  7. Enter the applicable amounts from the K-1 for Form 3468, lines 6a-6b:
    • Basis of property qualifying for gasification project credit, incl. CO2 sequestration (30%)
    • Basis of property qualifying for gasification project credit (20%)

For additional information on entering a qualifying gastrification project property, see the IRS Code AH. Other Information, section 8.

  1. Under Input Return, go to Credits, General Business and Vehicle Cr.
  2. Under the section General Business, Vehicle and Passive Activity Credits, enter the Name of activity (automatic if blank).
  3. Under the section Credits in the field Form (Click on arrow to select from list), select 4 = Schedule E (partnership).
  4. In Activity, select the applicable activity.
  5. Select the Investment & Research tab.Selecting the Investment & Research tab in ProConnect Tax.
  6. Under the section Investment Credit (3468), scroll to the Coal Project Credit subsection.
  7. Enter the applicable amounts from the K-1 for Form 3468, line 7:
    • Basis of investment in advanced energy project 

For additional information on entering a qualifying advanced energy project property, see the IRS Code AH. Other Information, section 9.

  1. Under Input Return, select Taxes, then Other Taxes to expand the dropdown menu.
  2. Select Self-Employment Tax (Schedule SE).
  3. Under the section Self-Employment Tax (Schedule SE), enter the Conservation reserve payments not subject to SE tax.

For additional information on entering conservation reserve program payments, see the IRS Code AH. Other Information, section 11.

 

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