As you work through the interview to enter Schedule K-1, under Box 20 Code Z, enter the rental loss in the amount column.
A few screens later, you will see a page titled "We see you have Section 199A income." In most cases, the income comes from the partnership that generated the K-1. Choose a different box if this is not the case.
The next screen will present boxes for "[name of investment] has business income (loss)" and "[name of investment] has UBIA of qualified property." Check these boxes, then enter the related values from the K-1 into the drop-downs.
Be sure to answer all questions that follow until you arrive back at the K-1 Summary page.
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