I have a 1065 K-1 that has an ordinary business loss in box 1 for the partnership along with amounts in other various boxes. Box 20 has code Z with a note to see the attached statement. The attached "Statement A - QBI Pass-through", has two different entities listed with two different tax i.d's from what is on the K-1 itself (none of these boxes are checked => "PTP", "Aggregated", or "SSTB"). The total of the ordinary losses reported on Statement A - QBI for these entities equals the amount on box 1 of the K-1.
How do I enter this information in TT? Reading all sorts of mixed comments on this. Any clarification would be helpful as I am still trying to clean up my 2023 tax return. TT appears to only allow one "Z" entry in the drop-down box so I can add one entity with its respective amount, but I can't enter the second entity and its amount so my total would not agree. How do I get this in TT so these two entities with different tax i.d's tie out to box 1 on the K-1?
Some people say enter two K-1's with the exact same information from the K-1 for parts I and II, but ignore all the boxes in Part III other than box 20. This makes no sense to me, why does TT not allow me to enter two QBI entities and their respective amounts? Very confusing!!
Thanks and Happy New Year
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