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J
John8290
Level 3
May 21, 2021
Question

Partnership K-1 box 20 Code AG

  • May 21, 2021
  • 1 reply
  • 23 views

In 2020 Lacerte there is no longer a line for Box 20, Code AG. This existed in the 2019 program.

Does anyone know where this is entered now, if at all?

 

Thank you for any replies.

This topic has been closed for replies.

1 reply

J
John8290Author
Level 3
May 24, 2021

Anyone?

PhoebeRoberts
PhoebeRobertsIntuit Community Champion
Intuit Community Champion
May 24, 2021

20AG is Gross receipts for section 448(c). If 448(c) is relevant to your taxpayer, you should take that amount into account in determining whether it applies.

    J
    John8290Author
    Level 3
    May 24, 2021

    Thank you Phoebe. Section 448(c) appears to be related to whether or not the taxpayer is permitted to use the cash method of accounting. 

    I'm just confused as to where that number would go in Lacerte. Someone suggested that it is a 199A(g) deduction. This is definitely not the case, and I'm confused as to where this number (over $40k) in my client's case would go if it's related to the method of accounting.

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