Hello,
I have invested in real estate through a company. Multiple small investors like me invest a certain minimum amount, and this company uses the collected investment to purchase an apartment complex. This company is also responsible for management of the property and they provide K-1 for it at the end of the year. One such property(called Property A) I invested in was purchased in 2019, and in 2022, it was sold, and its proceeds were invested in another portfolio of apartment complexes (let's call it Property B, C & D) with 1031 exchange.
Now, section 199a of the K-1 looks like the following. My question is, am I supposed to add the rental income, W-2 wages, and Unadjusted basis for all the properties listed in 199a before entering the values in TurboTax? I asked the company contact, but they could not give concrete advice beyond asking me to add it up, which logically didn't make sense. Please note the K-1 I received is only for Property A, not separate K-1 for property B, C & D. I saw responses from @ThomasM125 @Mike9241 and @Irene2805 , but their answers may not be applicable so I am asking here if they can also provide their expert advice here.
Also, which option should I select from the following in this scenario?
