Background
I am preparing a 1065 for my client (Partnership A). Partnership A is a partner in another partnership (Partnership B). My client received a K-1 from Partnership B. The K-1 has info in Line 20 Code A and Code AJ.
Question
When preparing a 1065 in Pro Connect, where do you enter information from line 20, Code A and AJ, from a k1 the partnership received?
Thank you.
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Hi George4Tacks,
Thank you for the response.
It appears that the entry you provided is under line 20 Code N. (Business interest expense)
I acknowledge that you wrote Code A and Code AJ, but on the statement, those are showing up under Business Interest Expense. Whereas Code A is Investment Income.
Do you know where to enter values for line 20 Code A or Code AJ?
Thank you,
Investment income will automatically populate from the other entries - such as interest and dividend income. Doesn't the Help tell you this? And to only enter an amount if you need to adjust the autocalculation?
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