I'm a parter in an LLC. Inherited this and never did taxes for it before. On the K-1, for box 20, code Z, it just says "STMT." The statement is below (details changed). What number should I enter for code Z on the "box 20 info" page in turbotax?
SCHEDULE K-1 SECTION 199A INFORMATION, BOX 20, CODE Z
DESCRIPTION AMOUNT
RENT -
RENTAL INCOME (LOSS) -21
SECTION 1231 GAIN (LOSS) -807
PASSTHROUGH - [COMPANY NAME 1], LLC
[COMPANY NAME 1], LLC
EIN: 11-1111111
RENTAL INCOME (LOSS) -92
SECTION 1231 GAIN (LOSS) 26
PASSTHROUGH - [COMPANY NAME 1], LLC
[COMPANY NAME 2], LLC
EIN: 22-2222222
RENTAL INCOME (LOSS) 1,272
SECTION 1231 GAIN (LOSS) 1,837
I see that the sum of the 3 "rental income" figures was entered in box 2 "Net rental real estate income (loss) ", and the sum of the 3 "section 1231" figures went in box 10 "Net section 1231 gain (loss)" on my K-1
UPDATE: nevermind I see this issue has been addressed before, sort of:
https://ttlc.intuit.com/community/business-taxes/discussion/how-to-enter-multiple-sec-199-passthru-e...
