NJ1
Level 1
03-11-2021
11:20 AM
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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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Employee
03-11-2021
11:26 AM
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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.
Employee
03-11-2021
11:27 AM
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Schedule K-1 Box 20, Code AG comes from Form 1065, page 4, Schedule K, line 20 E Gross receipts for Section 448(c)