Hi @JamesG1 .
For my second 1065 case; I do not have two separate UBIA (like your example), rather have 1 unadjusted basis number in 199A section. Do I enter same UBIA two times in 2 K-1 s for same LLC?
Detail example:
This is for a multi-unit rental property under 1 LLC, say "FOO LLC".
Line 1 , Ordinary Business Income = -1,000
Line 2, Net rental real estate income = -5,00
line 19, A distribution = 4,000
line 20, Z = "See Stmt"
Section 199A Information (Code Z)
Income items
Ordinary Income = -1,000 (non-SSTB)
Rental real estate income = -500 (non-SSTB)
Additional Information
section 199A unadjusted basis = 23,000
In TT, per "chose type of activity" page, I create 2 K-1 reports: one for "ordinary income (box1)" and second one for "real estate income (box2)".
When I follow through steps, at the point of UBIA (unadjusted basis), do I put UBIA 23,000 in both K-1 of "FOO LLC" ?
