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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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
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
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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