- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Question on where to input the K-1 Box 20, code Z, for a SSTB partnership business.
The info provided was
Ordinary income (loss) $20,000 loss
Self-employment Earnings $150,000
Health Insurance Payments 4,000
The partner did receive guaranteed payments that were reported on page 1 of the K-1. $174,000. That figure differs from the self employment earnings above by the loss of $20,000 and the health insurance payment $4,000. Also, page 1 of the Sch K-1 line 1, reflects ordinary income from the partnership.
What is the input on Lacerte for code z for ord income (loss)?
Also, is it necessary to check the box for the health insurance?
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
20 Z is screen 20 > Line 20 > Section 199A:Statements A and B (20Z)
Which box for health insurance?
Answers are easy. Questions are hard!