Investors & landlords

Your K-1 is reporting rental income and loss, and there is a place in TurboTax to enter that, which is explained later in this response.

Because your K-1 is reporting Section 199A information for both the "main" partnership, and also one or more pass-through entities, you'll have to enter multiple K-1s for the single K-1 you actually received.  One K-1 will be for the "main" partnership and have only the box 1-20 amounts related to that main partnership.  The additional K-1s will be for the "pass-through" entity and possibly the "some property" entity (only if "some properties" is a separate entity).  These additional K-1s will have only the box 1-20 amounts related to that pass-through entity.  

If you can't figure (deduce) that "split" from the information you have, you will need to contact the preparer of the K-1 to get those amounts.

For all these K-1s, use the same identifying information for the "main" partnership that sent you the K-1 (e.g., name of partnership, address, EIN, etc) when you begin the K-1 entry.  Later, when you tell TurboTax that one of the K-1s is for the pass-through entity (and "some properties" if it is a separate entity instead of the main partnership), TurboTax will ask for the name and EIN of the pass-through entity.

Note that when you enter each K-1, you'll 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 partnership, and on the others you will enter that it is from the pass-through entity. TurboTax will ask for the name and EIN of each pass-through entity.

Note that UBIA is an acronym for Unadjusted Basis in Assets.

For both K-1s you enter, enter the code Z when you enter the K-1 box 20 screen, but you don't need to enter an amount on that screen.  Continue on, and you'll eventually find the screen  "We need some more information about your 199A income or loss".  When you check the box next to a category on that screen, a place will open up to enter the amounts from the Statement or STMT that came with your K-1.  The applicable category (or categories) on this screen (and the following "Let's check for some uncommon adjustments" screen, if applicable) must be completed in order for your K-1 QBI information to be correctly input into TurboTax. 

To get back to the K-1 summary screen and find the Schedule K-1 to edit, click the "magnifying glass Search" icon on the top row, enter "k-1" in the search window and press return or enter, and then click on the "Jump to k-1" link to find the K-1 you need to edit.

Here are the "We need some information about your 199A income or loss" and "Let's check for some uncommon adjustments" screens where you enter the information from your K-1 Section 199A Statement/STMT: