Hi; thanks for responding. I don't think I asked my question correctly.
I am on the screen in turbotax premier that says "We need some information about your 199A income"
It instructs me to use Statement A to fill in the info.
I used the numbers from my Statement A in the section under "QBI or qualified PTP items subject to partner specific determinations" per the screen instructions BUT i don't know what to put in the box on the Turbo Tax screen for Other income (loss). I'm hoping to illustrate my question below.
On the Turbo Tax screen in the section that asks for Ordinary business income (loss) - I put the number that is on the row that shows "Ordinary Business Income (loss)" It is in the first column of the Statement A
On the Turbo Tax screen in the section that asks for Rental income (loss) - I put the number in the row that shows "Rental income (loss)" It is in the second column of the Statement A
THIS IS THE PART THAT I"M NOT CONFIDENT WHICH NUMBER TO PUT:
On the Turbo Tax screen in the line that asks for other income (loss) - I am not sure what number to put in the row of Statement A that says "Other income (loss)" because there is a number in BOTH columns of that row. The first columns number is the amount that is in Box 1 of the Schedule k-1. The second columns number is the same amount as the Section 179 deduction.
I'm not sure why there are numbers in both columns. The Schedule k-1 along with the Statement A were produced in TurboTax Business. My husband and I are 50% partners in this LLC and his Statement A has the same occurrence. It seems it would be the number that is the same as the Ordinary Business Income, I just wish to be sure before e-filing our taxes
Thank you so very much!
