Using Code AH rather than Code Z on Box 20 of the Schedule K-1 has significant and negative tax consequences. TurboTax will not apply the deduction you should get, you MUST enter Code Z amounts under Code Z. Open this post for a solution !
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Using Code AH rather than Code Z on Box 20 of the Schedule K-1 has significant and negative tax consequences. TurboTax will not apply the deduction you should get from your tax due with code AH. So you MUST enter Code Z amounts under Code Z.
NOTE: TurboTax needs to fix this. The person that placed the question to David spent a LOT of time solving this. His post said many hours, 5 expert TurboTax experts and three days later he had the solution! And what makes this really sad was he was a Tax Consultant that uses TurboTax.
Here is the solution I found with a Google search that worked for me. This is copied from the post verbatim
Employee Tax Expert DavidS127
Employee Tax Expert
March 6, 2020 12:00 PM
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