You input a separate K-1 entry for the separate EIN. I am unsure about the ten properties. Are they all reported under individual EIN's or are they part of the main partnership?
Your K-1 may be structured as follows where box 1 or box 2 reports the total of the three entities but attachments break out the income by entity.
K-1 Main partnership A B
Box 1 1,000 500 200 300
During the first part of the K-1 entry, all the separate K-1s use the name, address, and EIN of the main partnership shown on the K-1 you actually received. Enter each additional Schedule K-1 just like the first. Capital information is only reported on the main partnership.
At the screen We see you have Section 199A income,
- You will click The income comes from the partnership that generated this K-1 for the main partnership,
- You will click The income comes from another business for the other two partnerships.
The separate section 199-A statement that you received for box 20 code Z should already split the Section 199-A amounts between the entities, so you enter the Section 199-A amounts for each entity on the K-1 you have created for that entity.
Note that when you enter each K-1, you will encounter the question Is the business that generated the Section 199-A income a separate business owned by the partnership? screen. TurboTax is asking if the Section 199-A income was passed through to the partnership sending you the K-1 by another partnership, S-Corp, or trust; versus being generated by the business operations of the partnership that sent you the K-1. So, on one of the K-1s you enter you will answer that it is from the main partnership, and on the others you will enter that it is from a pass through entity. TurboTax will ask for the name and EIN of each pass through entity.
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