Hi,
I know similar questions have been asked many times, but I couldn't find the exact answers in the forum.
I have box 1, 2 and 3 in schedule k-1. I understand I need to enter 3 schedule K-1 in TT, each one with entry from 1 box. Only one of the 3 schedule k-1's in TT will have boxes 4-20, all the others will have box 4-20 unmarked. Question 1, which one of the 3 K-1’s should have box 4-20?
Question 2: (image below) Assume I enter boxes 4-20 in K-1 related to box 1. when I get to box 20 code Z, in the screen that says "we need some information about your 199A income" the first checkbox says " has business income (loss) (including ordinary, rental, royalty or other)". There are 4 fields, do I enter both ordinary business income(loss) and rental income(loss) or do I enter just one of them and the 2nd one in another schedule k-1 related to box 2? This is section 199A income, I am not sure if section 199A income is separate from Box 1 and box 2 numbers, if they are separate I guess my question is irrelevant?
Question 3. (image below) In the same 199A income entry form, is “UBIA of qualified property” field entered from schedule K-1 “Partner's Section 199A Information Worksheet” “Qualified property” Field? (btw the 2023 form is intentional)
