It's my first time filing a Schedule K-1 where Box 17 has a code V* with STMT entry. I left it blank in TurboTax and made it to the additional information where I had no troubles entering all of the Statement A - QBI Pass-through Entity information. However, the Statement A contains a second company with Ordinary business income. As there isn't any place which it appears I can enter this other business, is it correct that I need to create a second K-1 in TurboTax to support getting this single value entered?
If it's correct that TurboTax needs additional K-1's entered for any additional businesses on Statement A, would the process be to create the extra K-1, enter the main company information (who generated the K-1), and basically just progress to the screen asking which boxes have an amount and check box 17, enter code V, choose that the income comes from another business, and then enter the other business info and 199A income? It just seems strange to have to do this in a whole other entry. It would be nice to get some confirmation that I'm doing this right. Any help/advice would be greatly appreciated. Thanks!
