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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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.
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.
Thank you, I'll give it a try.
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