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K-1, Box 20 - Z = Section 199A Income from another business. How do I enter two businesses?

Filling out K-1, Box 20 - Z = Section 199A Income from another business. Here's my problem, the partnership had income generated by TWO other businesses, but Turbo Tax only gives me the option to enter the name, EIN, and info (QBI, W-2 Wages & UBIA) for ONE business.  How do I enter for the other business the partnership owns? It's all for the same K-1.

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DaveF1006
Expert Alumni

K-1, Box 20 - Z = Section 199A Income from another business. How do I enter two businesses?

You are going to need to report this on another K1 even though it is the same partnership. In the second K1, you will need to fill out the name and EIN of the partnership but then you only report the transaction in box 20  regarding the second business.

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2 Replies
DaveF1006
Expert Alumni

K-1, Box 20 - Z = Section 199A Income from another business. How do I enter two businesses?

You are going to need to report this on another K1 even though it is the same partnership. In the second K1, you will need to fill out the name and EIN of the partnership but then you only report the transaction in box 20  regarding the second business.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

K-1, Box 20 - Z = Section 199A Income from another business. How do I enter two businesses?

Thank you, I'll give it a try. 

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