tarti
New Member

1065 Sch K-1 Box 20 Code Z with Multiple Activity Levels

I received a K-1 where, under box 20, code z, there are 8 different activities (8 properties in this Limited Partnership) all broken out separately for their respective QBI and UBIA.  I am making a formal aggregation election under IRS Reg. 1.199A-4  under my "real estate professional" status and I believe I need these 8 activities broken out separately.  How do I do that?  Once my QBI flips to the positive in a few years, I don't want to run into issues optimizing my Section 199A deduction.