My husband and I owned sole shares in our S corp (rental ppty) with JointTenancy Right of survivorship.
When I did our S corp I entered the change in ownership. I did most other things the same as always but then wasn't sure what to do about the K-1s. He died Nov. 2024 so TurboTax did certain adjustments based on that date.
At the end of the return, it now shows both of us with a k-1. This time more of the loss was apportioned to him. In past it always divided it 50/50.
Now on Statement A -QBI Pass-through Entity Reporting, it shows 0 under UBIA of qualified ppty.
On my K-1 it shows a figure in UBI of qualified property.
At one point, it asked if all of the income was for both of us or just me. I wasn't sure if it was talking about at the end of year and should have checked me only or checked the box for "both of us".
Am I supposed to have 2 k-1s ?
I have to do an amendment anyway so I can re-do this differently if needed. Is his basis now added to mine?
Thanks for any help. (I have TT Business desktop - downloaded)