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K-1 from partnership showing Z* on line 20 Multiple entries on Statement A QBI PTE

I have a K-1 which includes a Statement A QBI Pass-through Entity Reporting.  The schedule A has an enrty for 1065 line 22 and then 8 aditional entries from MLPs, 9 total entries.  Should each one of these be entered separately on a line Z or should they be manually  totaled up and then entered? Each entry has values in various boxes of the scheule.

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3 Replies

K-1 from partnership showing Z* on line 20 Multiple entries on Statement A QBI PTE

there is no line 22 on a 1065 K-1. 

your situation is uncleared because the IRS has no clarified reporting for tiered partnerships

 

in other words, the profits, losses other income and deductions for each MLP reported on your k-1 may need to be separately reported in Turbotax. There should have been a letter of explanation describing the situation in your k-1 package. the QBI info entries would follow the MLP entries. if you use 1 k-1 you'll need to total them 

 

K-1 from partnership showing Z* on line 20 Multiple entries on Statement A QBI PTE

Thank you for the response

 I meant line 20, not line 22.  So you would suggest totalling all entires for the line 20 z entry rather than separate entries?  There was no explanantion just the schedule A.  Thanks again for your response 

PatriciaV
Employee Tax Expert

K-1 from partnership showing Z* on line 20 Multiple entries on Statement A QBI PTE

Yes, total each category for Schedule K-1 Box 20 Code Z when entering the QBI information in TurboTax. For example, total all ordinary income, 1231 gain, W-2 wages, UBIA. etc.

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