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Investors & landlords
No, because your Schedule K-1 has two sets of income amounts--one which appears to be income related to a specialized service trade or business and one which is not a sstb--enter two Schedule K-1s. One Schedule K-1 will have your box 20 amount that is Non-SSTB, and the second Schedule K-1 will reflect your income that is a SSTB.
Depending on your income and from a tax perspective, the qualified business income deduction may not be impacted with your SSTB income. However, adding the amounts together may produce an unintended result, thus, keep them separate by entering two Schedule K-1s. All of the other amounts you reference in your post, i.e., income, wages, and UBIA, should be entered on their respective Schedule K-1.
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March 23, 2023
11:02 AM