If your K-1 shows more than one type of activity, treat each one separately. Enter all business items on one K-1, all real estate rental items on another K-1, and all other rental items on a third K-1.
Also, if some of the business income is from an SSTB and some is non-SSTB income, you may need to enter a K-1 for each business activity and allocate the items reported on the K-1 between the 2 businesses. You will only need to divide up the business income on your K-1 if your total taxable income in 2019 is over $160,700 for single filers or $321,400 for joint filers.
The qualified business income deduction amount depends on the taxpayer's total taxable income, which includes wages, interest, capital gains (etc.) in addition to income generated by the business. Once the taxable income reaches the threshold amount, the type of business also comes into play.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
