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Get your taxes done using TurboTax
Thanks It was helpful.
Regarding Partnership K1s
Supplemental info has lots of Codes (mostly 20 something) and I read description of each code and none of the say SSTB or trading.
Q: For Business activity within K1s to be labelled as SSTB, Is there a specific Code number or Box number in Supplemental info?
I have already checked Yes to SSTB in QBI section within Sch C. Now in K1 interview there are 2 questions.
First question is for K1 entity's business activity
Q: Does K1 Entity Name receive income for Specified services (same examples shown as in sch C)?
I answered NO, as I don't see anywhere on K1.
2nd Question is for my own activities
Q: In 2022, did you have any activities on your return that were classified as SSTB or had income attributable to SSTBs? It is NOT asking for current or 2023 tax year.