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Get your taxes done using TurboTax
No - Don't add them together. You should check with the business that issued the K-1 to see what they mean with the two columns,
It sounds as if the column 1065, Line 22 is the total for the partnership and the second column, [name of your operation], is your share.
If this is the case, use the figures from the column with the name of your operation.
As you go through the interview for the K-1:
- After entering figures for box 20 of the K-1, you will come to a screen, We need some information about your 199A income. [See screenshot below.]
- Mark the appropriate boxes (business income, UBIA, etc.) and enter the numbers in the box that appears.
‎February 25, 2021
9:48 AM