Multiple Activities 199A Activity Worksheets

[anj2]

My LLC has two separate activities to report for 199A purposes.  The 199A summary is pulling the full ordinary business income from Form 1065 into the first column of the worksheet.  How can I break out the ordinary business income between the two activities so that it will flow to the 199A Statement Summary attached to each partner's K-1?

[RobertB4444]

The schedule K-1 only shows the partner's total share of distributive income.  The income per activity is information that the partners should receive but is not necessary for income tax purposes.

@anj2 

[anj2]

The instructions for Form 1065 state "Partnerships should use Statement A—QBI Pass-Through Entity Reporting, later, or a substantially similar statement, to report information for each partner’s distributive share from each trade or business, including QBI items, W-2 wages, UBIA of qualified property, qualified PTP items, and qualified REIT dividends by attaching the completed statement(s) to each partner’s Schedule K-1."

Currently, Statement A is populating with 100% of each partner's share of QBI items in column 1.  I cannot figure out how to get Statement A to split each partner's share of QBI items between the Trade or Business 1 and Trade or Business 2 columns.

[PatriciaV]

The situation you describe is not covered by the TurboTax software. The program can only handle one type of income that is subject to shareholder-specific determinations per Schedule K-1. The program can only handle one of these types of income at a time when they appear on the same K-1: ordinary business income, rental income, royalty income, and other income.

You may wish to obtain the services of a local tax professional using software specifically designed for complicated business returns.