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2024 1040: entering K-1 line 20 code z re real estate; on 1040 entry what gets entered for code z?

In 2024 the K-1 from a 1065 with rentals has more sections.  I can't figure what to add up etc from my 1065 k-1 that has a dozen rentals and enter into my 1040 K-1 questionair.  The k-1 has a section A - QBI pass through reporting.    Then each rental with some numbers.   

 

I'm trying to enter this K-1 into my 1040 questionair that just has a single entry for line 20 code z.  How do I add things up from the 2024 more expanded k-1?

 

In the 1065's k-1 section A each rental has numbers for:  Rental income, UBIA of qualified property.   About a dozen rentals are listed each with these 2 numbers.

 

tnx curt

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1 Reply
DianeW777
Expert Alumni

2024 1040: entering K-1 line 20 code z re real estate; on 1040 entry what gets entered for code z?

The rental income, the unadjusted basis of assets immediately after acquisition (UBIA) and the qualified business income (QBI) deduction can be entered into the 1065-K1 as follows.

  1. Line 2: Rental income 
  2. Line 20: QBI (also known as Section 199A) - Select Code Z - Continue to follow the screens to the UBIA
  3. Line 20: UBIA -Follow up question

See the images below to enter your information for 2 and 3 above.

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