Thank you very much @DavidS127 for the detailed reply.
About some more information for "199A" screen what is applicable to me is
- Ordinary business income (loss)
- Rental business income (loss)
I reached out to my K1 producer company and they suggested me that
- "Ordinary business income (loss)" comes from K1's (Part III Partner’s Share of Current Year Income,
Deductions, Credits, and Other Items) --> line 1 - "Rental business income (loss)" comes from K1's (Part III Partner’s Share of Current Year Income,
Deductions, Credits, and Other Items) --> line 2
So I am little confused now. Do i need to do anything with the numbers on 199A form?
I will get back to my K1 producer company and ask them the same questions (plus separate k1 form as you mentioned in your reply). But meanwhile, feel free if I misunderstood anything.
Thank you very much. Really appreciated.
-Parthik
