Schedule K-1 Box 20 Code T

LWarner
LWarner Member Posts: 3 Newcomer
in Filing my taxes

For an Oil and Gas Production Partnership with Tax Information reported on a Schedule K-1, Depletion is reported in Box 20 with Code T. Code T is not an option in the drop down. Is Code T supported or did I make a setup error when creating the K-1?

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Answers

  • LWarner
    LWarner Member Posts: 3 Newcomer

    Also, block 17 (AMT Items) does not have Code D or E in the drop down selection.

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  • MatthewD
    MatthewD FreeTaxUSA Team Posts: 340

    Hello LWarner,

    Our software does not currently support all the available codes for the Schedule K-1. Box 20, code T for depletion and Box 17, Codes D and E. D: Oil, gas, & geothermal--gross income and E: Oil, gas, & geothermal--deductions for AMT Items are not supported either. I am sorry, but if you need to enter those items on your Form 1065, Schedule K-1, you will need to use another tax service.

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