How to enter multiple Sec 199 passthru entities

[Max_defender]

I am not a tax professional, but I can tell you what worked for me in the past.

The K-1 has separate sections for reporting at the state level because the states have

various accounting rules.  The NY state section includes various totals. When in doubt,

I enter the values from the NY state section into Ttax, and the IRS accepts the return--every time so far.

My situation is not multiple businesses, but multiple rental properties owned by a single LLC.

Example:

find "New York Partner's Schedule K-1"

Box 10 net 1231 gain   $23,000.00

This seems to be the total for all the properties.  And I put it in the 199A income section.

same for W-2 wages.

[AliciaP1]

Since you received 1 Schedule K-1 from the PTP but have multiple columns of Section 199A income, you can add all the QBI component columns together and enter it as a total.  The only time you need to enter additional Schedule K-1s is if the QBI income is related to different boxes of income (box 1, 2, or 3).

@mdaramola   

[Browniela]

I have ~80 pass through entities from a K-1 Partnership.  Did anyone determine an easy to solve this?

Having to enter 10 for another K-1 was painful enough with the address and 4 boxes needing to be filled out and going through every single inefficient screen.  Please let me know if there is an easy way to add the K-1 details.

[markmartian]

This is still the only way to enter these type K-1s using Turbotax.  The other tax programs aren't any better.  It stinks.  You can either hold your nose and do this extremely annoying way, or pay an accountant through the nose to do these types of returns.  And if you don't get an accountant that specializes in complex K-1 business returns (and pay them literally thousands of $), they likely won't fully understand it and will do it wrong, too.  I have associates that have experienced this and end up with accountants charging $5-10K to do their taxes (crazy).  It's why I'm moving away from investments that issue K-1s with multiple pass through entities.  The returns don't justify the hassles.