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Get your taxes done using TurboTax
To enter this follow these steps:
- You will report the first K1 with the partnership information, EIN etc. Also you will record all the boxes that have income in them (1-20) Record code Z in the first K1 and report the income comes from another business. You will then be asked to record the name and EIN of that business and then fill in the remaining information regarding the 199A income.
- To record the second business, create another K1 with the information about the partnership but leave the boxes blank except for Box 20 Code Z information. Here you will record the information about the business, EIN, and so on and so forth.
- Repeat this process until you finish reporting all of the multiple businesses that has eligible 199A section income reported on that single K1 sent to you by the partnership.
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‎April 9, 2025
4:40 PM