read the letter in the tax package. there's usually a sentence that says it's unclear how to report tiered partnerships. Therefore, it's up to you on how to report. Turbotax does not allow lines 1 and 2 to be used on a single K-1. If you elect company by company reporting you'll need a K-1 for each that has income/loss on line 1 and a K-1 for each entity that has income/loss on line 2. You then have to deal with the separate QBI amounts for each K-1. Combined report based on ET's K-1 means only 2 K-1s lines 1 and 2 in total.
Alert: Upon sale, the reporting provided by ET ( true for all prior years) does not break down by entity or type of income.
Your K-1 probably reflects an amount on line 13K that has not been deducted from line 1 or 2. This subjects you to filing form 8990 that Turbotax does not do.
