This K-1 reports amounts in more than one of the boxes 1, 2, and 3, it says I have to enter the business activies on one K-1 and the real estate rental on another K-1.
I have "1 Ordinary income" and "3 Rental income"
From my understanding I fill out everything in the K-1 with "1 Ordinary income" and then do another K-1 entry for "3 Rental income" but only enter the information listed in "3 Rental income"
When I skip clicking the boxes on "3 Rental Income" I get this message...
Does your K-1 have a code V in Box 17?
We're just double-checking to make sure you don't miss out on a potentially valuable qualified business income (QBI) deduction. Since your K-1 reports income that's often eligible for this deduction, you should double-check Box 17 for a code V.
Should I be entering Box 17 again as it is suggesting for "3 Rental Income" or would it be covered with the Box 17 "1 Ordinary income"
Thank you!
