Terry53029
Level 15
Level 15

Form 8890 is not in pro series. You use it to calculate the amount of business interest expense you can deduct and the amount to carry forward to the next year for your client if it applies. Look for it at irs.gov. If code AJ income and deductions are positive then that K1` will not effect your client. It is for information for that 1120S only. If your client has other business losses then you would use that K1 to off set his other losses if he has any, otherwise no effect. code ZZ is for other info that the 1120S corp will tell you if it has any other info that may effect your client 

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