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Unable to "Select the SSTB that this partnership receives income from" as there is none to select

I am a limited partner in a business that is dedicated to managing the real estate/rental for our medical office. From this entity, I receive a K-1.

As related to the medical practice itself, I receive a W2.

In TurboTax I have reached the question "Does this business (the real estate partnership with K-1) receive income from a specified services business with common ownership?" I select yes, because both businesses are owned by the same group of physicians. TurboTax then asks me to "Select the SSTB (Specified Service or Trade Business) that this partnership receives income (i.e. rent) from".

I am not able to select the business I receive the W2 from as I don't have a K-1 or otherwise that would have been entered in TurboTax so I am not clear how to proceed or if I may be looking at this incorrectly.

Thanks in advance.

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5 Replies

Unable to "Select the SSTB that this partnership receives income from" as there is none to select

Go back and say NO since you only have a K1 from one of the businesses. Of course if you are an owner in  the medical practice you should get a K-1 for the ownership AND a W-2 for working the business. 

Unable to "Select the SSTB that this partnership receives income from" as there is none to select

Thanks. I should clarify that the medical practice is a Professional Corporation with shares issued and as such/based on how it is managed, no K-1's are produced.

Unable to "Select the SSTB that this partnership receives income from" as there is none to select

Ok .. so it is a C-corp where you own shares and get dividends from it  and a W-2 since you also work for the company ... in this case no K-1 will ever be issued so say no.

Unable to "Select the SSTB that this partnership receives income from" as there is none to select

Got it. Thank you!
michaelh
New Member

Unable to "Select the SSTB that this partnership receives income from" as there is none to select

What supports the position that rental income to a real estate partnership from a commonly owned SSTB  taxed as a C corporation does not make the real estate partnership a SSTB? Everything I read indicates it does not matter whether SSTB is a pass through or C corporation, it still taints the real estate partnership.
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