Question for 1065 - "About Your Business"

jesunattt · Apr 3, 2023 10:48:08 AM

Hi, I have a pass-through LLC A which I received a K-1 from LLC B. The K-1 form has positive value in box 2 (Net Rental Real Estate income(loss)), and Negative value in box 20 Z* (with Section 199A statement having multiple lines attached).How do I answer the following questions in "About Your Business" to get the correct Form (Section 199A) showing up? Aggregated activities for section 465 at-risk purposes.Has more than one activity for section 465 at-risk purposes.Grouped activities for section 469 passive activity purposes.Has more than one activity for section 469 passive activity purposes. Thank you! Jennifer

Hi, I have a pass-through LLC A which I received a K-1 from LLC B. The K-1 form has positive value in box 2 (Net Rental Real Estate income(loss)), and Negative value in box 20 Z* (with Section 199A statement having multiple lines attached).

How do I answer the following questions in "About Your Business" to get the correct Form (Section 199A) showing up?

Aggregated activities for section 465 at-risk purposes.

Has more than one activity for section 465 at-risk purposes.

Grouped activities for section 469 passive activity purposes.

Has more than one activity for section 469 passive activity purposes.

Thank you!

Jennifer