Ideally, the preparer of the K-1 and attachments has provided a breakdown for what may be reported on each of the K-1 entries. This would insure the proper cost basis for the assets and proper qualified business income deduction. See sample.
Original K-1 1 2
Box 1 $1,000 = $1,000
Box 2 $500 = $500
Box 4 $100 = $75 $25
Box 5a $200 = $150 $50
Box 5b $100 = $75 $25
W-2 wages $50,000 = $25,000 25,000
UBIA $100,000 = $50,000 $50,000
@ezreub
[Edited 04/10/25 | 7:17 pm PST]
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