I have a K-1 from a real estate partnership. Box 2 = -1478. Box 20 Code Z = STMT.
Then below the form itself it says the following:
======= BEGIN QUOTE =================
Section 199A information, Box 20, Code Z
Rent - Investment in Subsidiary - <SUB NAME>
- Rental loss = -578
PASSTHROUGH - <SUB NAME> LLV [same SUB NAME as above, with LLV added]
EIN: <this EIN is different from K-1 EIN>
- Rental loss = -900
- Unadjusted Basis of Assests = 6521
======== END QUOTE ============
Note that the two losses add up to -1478, which is the number in Box 2. This loss will be suspended.
I also a further Schedule of Activities, where the two a listed separately with -578 listed with Code 2, and -900 is listed with Code 8. I have not found any information about this schedule and the codes.
Now my question:
TT is asking whether the Section 199A income is from the partnership that generated the K-1, or from another business.
Which option should I pick?? On the one hand, only -900 is from another business with its own EIN. On the other hand, the -578 seems to be from the same business, just listed differently!
Thanks!
