I wish an expert would answer @cookers33 questions earlier in this thread ("So here are my questions:...").
I'm in the same situation with limited partnership investments (PTEs, not PTPs) with box 1 and box 2 income and many box 20 Z pass-through EINs contributing to the QBI. Do I literally have to generate a new K-1 entry for each of the 20+ pass-through EINs, in addition to the "main" box 1 entry and the 2nd box 2 entry? With 10 investments, that's hundreds of K-1 form entries.
How does Ttax use all those entries? Isn't it just in case you exceed the income threshold ($157500) for the QBI deduction, and therefore have to do the more complex w-2, UBIA, SSTB and basis calculations? For lower income filers, can't the separate EIN entries be ignored and just use the combined totals of each of the "Ordinary Income, Rental Income, W-2 Wages, Self Employment Earnings and UBIA" categories? Thanks!
@DavidS127
