- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Business & farm
You don't make entries into the QBI Component worksheet. That QBI Component worksheet is populated by linking it to a source of QBI (e.g., a K-1, Schedule E, or Schedule C that generates QBI). You link to a QBI component worksheet in the Section D2 question A, a little more than half-way down the partnership K-1 form. You can either use the QuickZoom button or double-click in the box to get a pop-up. The pop-up will let you select an existing QBI Component sheet, or allow you to create a new one.
If you don't need or want to aggregate businesses, you use a separate QBI Component sheet for each source. If you do want to need to aggregate businesses, you link the sources to a single QBI Component sheet. So, you may need to decide whether or not you want or need to aggregate any businesses in 2019. Once you aggregate, you must continue to aggregate in future years. But, not aggregating last year does not preclude you from aggregating this year. Refer to the IRS instructions for Form 8995-A for more information on aggregation.
I didn't quite understand your K-1 situation. The LLC business tax return you are preparing would generate a single K-1 for your individual return.
**Mark the post that answers your question by clicking on "Mark as Best Answer"