DavidS127
Expert Alumni

Get your taxes done using TurboTax

If there are entities reporting QBI on your tax return, it will not be prepared correctly unless you report the Section 199A information for each entity separately.  That will require a separate K-1 for each passthrough entity.

 

The same is true if your K-1 reports income or loss in more than one of the "box 1, box 2, or box 3" lines on your K-1.  That requires a separate K-1 for each of those "boxes" that report income.

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