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Level 1
posted Apr 16, 2020 2:24:49 PM

K-1, Box 20 - Z = Section 199A Income from another business. How do I enter two businesses?

Filling out K-1, Box 20 - Z = Section 199A Income from another business. Here's my problem, the partnership had income generated by TWO other businesses, but Turbo Tax only gives me the option to enter the name, EIN, and info (QBI, W-2 Wages & UBIA) for ONE business.  How do I enter for the other business the partnership owns? It's all for the same K-1.

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1 Best answer
Expert Alumni
Apr 16, 2020 4:30:02 PM

You are going to need to report this on another K1 even though it is the same partnership. In the second K1, you will need to fill out the name and EIN of the partnership but then you only report the transaction in box 20  regarding the second business.

2 Replies
Expert Alumni
Apr 16, 2020 4:30:02 PM

You are going to need to report this on another K1 even though it is the same partnership. In the second K1, you will need to fill out the name and EIN of the partnership but then you only report the transaction in box 20  regarding the second business.

Level 1
Apr 17, 2020 3:40:13 AM

Thank you, I'll give it a try.