@DaveF1006
I'm curious why on the Box 20 Z statement, multiple pass-through entity EINs need to be listed on separate K-1 entries?
How does Ttax use all those entries? What is the calculation? Is it just in case you exceed the income threshold ($157500) for the QBI deduction, and therefore have to do the more complex w-2, UBIA, SSTB and basis calculations? For lower income filers, can't the separate EIN entries be ignored and just use the combined totals of each of the "Ordinary Income, Rental Income, W-2 Wages, Self Employment Earnings and UBIA" categories? And if not, what are the separate EIN entries accomplishing? Thank you.
