Box 17 - Other Information
Code A- Investment Income
This is the taxpayer's share of investment income (interest, dividends, etc.) from the corporation. This income should have been recognized elsewhere on this K-1 in the Income items. The amount in Box 17, code A is provided for informational reasons only. No amount entered in this field will flow to Form 4952 or to Form 1040, Schedule B.
Code B - Investment Expense
The amount reported in Box 17, Code B pulled to Form 4952.
Code C - Qualified Rehabilitation Expenditures (other than rental real estate) Not Supported
The corporation will report the taxpayer's share of qualified rehabilitation expenditures and other information needed to complete Form 3468 for property not related to rental real estate activities in Box 17, Code C.
Code D - Basis of Energy Property Not Supported
The amount reported in Box 17, Code D may be needed to calculate the Investment Credit available on Form 3468.
Code E - Recapture of Low-Income Housing Credit (section 42(j)(5)) Not Supported
Amounts reported in Box 17, Code E represent the Low-Income Housing Credit recapture amount due to a disposition or basis change, typically for an investment by the corporation in a partnership that has more than 35 partners, and this amount may be reported on Form 8611.
Code F - Recapture of Low Income Housing Credit (other) Not Supported
Amounts reported in Box 17, Code F represent the Low-Income Housing Credit recapture amount due to a disposition or basis change typically for an investment by the corporation in a partnership that has less than 35 partners and this amount may be reported on Form 8611.
Code G - Recapture of investment credit Not Supported
The amount reported in Box 17, Code G may need to be reported on Form 4255. No amount entered in this field will flow to the Form 4255.
Code H - Recapture of other credits Not Supported
The amount reported in Box 17, Code H represents the recapture of other business credits that may need to be reported on Form 1040.
Code I - Look back interest - completed long-term contracts Not Supported
Amounts reported in Box 17, Code I are reported on Form 8697.
Code J - Look back interest - income forecast method Not Supported
Amounts reported in Box 17, Code J are reported on Form 8866.
Code K - Depreciation of property with section 179 deductions Not Supported
Amounts reported in Box 17, Code K may need to be reported on Form 4797.
Code L - Recapture of Section 179 deduction Not Supported
Amounts reported in Box 17, Code L represent the taxpayer's share of any recapture of section 179 expense deduction if the business use of the property dropped to 50% or less.
Code M - Section 453(l)(3) Information Not Supported
Amounts reported in Box 17, Code M represent the taxpayer's share of taxes as a result of the sale of certain class of assets (residential lots and timeshares) on an installment basis.
Code N - Section 453(A)(c) Information Not Supported
Amounts reported in Box 17, Code N represent the taxpayer's share of taxes as a result of the gain on sale of certain assets (property with a sales price over $150,000) on an installment basis.
Code O - Section 1260(b) Information Not Supported
Amounts reported in Box 17, Code O represent the taxpayer's share of taxes as a result of the gain on the sale of assets on an installment basis.
Code P - Interest Allocable to Production Expenditures Not Supported
Amounts reported in Box 17, Code P represent the information that the taxpayer needs to capitalize any interest related to production expenditures under Section 263A.
Code Q - CCF Nonqualified Withdrawals Not Supported
Amounts reported in Box 17, Code Q represent the taxpayer share of nonqualified withdrawals from a capital construction fund (CCF). These withdrawals are taxed separately from the taxpayer's other gross income at the highest marginal ordinary income or capital gains tax rate.
Code R - Depletion Information - Oil & Gas Not Supported
Amounts reported in Box 17, Code R represent information the taxpayer needs to figure their share of any depletion deduction.
Code S- Reserved
Code T - Section 108(I) Information Not Supported
If the corporation made a section 108(I) election, it will provide the taxpayer with a statement identifying the taxpayer's share of affected items. See the shareholder's instructions provided by the corporation for further information on the treatment that these items will receive.
Code U - Net Investment Income Not Supported
An amounts reported in Box 17, Code U is the information that is provided to the taxpayer to determine their net investment income tax under section 1411. See the shareholder's instructions provided by the corporation for further information on the treatment that these items will receive and the Instructions for Form 8960 - Net Investment Income Tax.
Code V – Section 199A income
Amounts reported in Box 17, Code V is ‘Qualified Business Income” which is generally defined as income that is related to the corporation's business activities and it does not include investment income or the reasonable compensation paid to the shareholders for services rendered to the corporation. This amount will automatically pull to the applicable Qualified Business Income Deduction (‘QBID’) worksheet under the Tax Computation Menu and used to calculate any QBID.
Section 199A W-2 Wages
Amounts reported in Box 17, Code W are the wages paid by the corporation that were reported to the Social Security Administration on a W-2. This amount will automatically pull to the Qualified Business Income Deduction worksheet and is used in the calculation of the QBID for taxpayers above the taxable income thresholds.
Section 199A unadjusted basis
Amounts reported in Box 17, Code X is the unadjusted basis of qualified property held by the corporation. Qualified property is generally defined as the original cost of assets that were placed in service by the corporation in the past ten years and still used by the corporation and the original cost of assets still being depreciated by the corporation because the recovery period is greater than ten years. This amount will automatically pull to the Qualified Business Income Deduction worksheet and is used in the calculation of the QBID for taxpayers above the taxable income thresholds.
Section 199A REIT dividends
Amounts reported in Box 17, Code Y are the REIT dividends received by the corporation. This amount will automatically pull to the applicable Qualified Business Income Deduction worksheet and is used in the calculation of the QBID.
Section 199A PTP income
Amounts reported in Box 17, Code Z is the Publicly Traded Partnership income reported by the corporation. This amount will automatically pull to the applicable Qualified Business Income Deduction worksheet and is used in the calculation of the QBID.
Code AA– Excess taxable income
Amounts reported in Box 17, Code AA is the excess taxable income determined by the corporation for the purpose of the limitation placed on the corporation's ability to deduct business interest.
Code AB– Excess business interest income
Amounts reported in Box 17, Code AB is the excess business interest income determined by the corporation for the purpose of the limitation placed on the corporation’s ability to deduct business interest.
Code AC - Gross receipts for section 448(c) Not Supported
Box 17, Code AC are the gross receipts amount to figure the business interest expense you can deduct, if applicable.
Code AD - Other Information Not Supported
Box 17, Code AD are other items of information not found elsewhere on the Schedule K-1 (Form 1120S) Shareholder's Share of Income, Deductions, Credits, etc. The taxpayer should receive instructions from the corporation needed to address the items contained in this box.