Investors & landlords

Ren12, David gave a clear answer on how to split the Section 199A amounts between the "main k-1" and the "pass-through entity k-1",  in another thread.   I'll quote it here, because it helped me.

 

"DavidS127

Expert Alumni

No, you must deduce the "split" of those box 1, 5, 7, and 14 amounts between the main entity and the passthroughs.

 

So, take a look at the Section 199A information reported for the passthrough entities, and compare that to the box 1, 5, and 7 amounts reported on the actual K-1.  If the Section 199A for the passthrough entities is, say, $50 each of rental income for $100 of total "rental income" from both passthrough entities, and the box 7 net rental real estate income $100, then all the box 7 $100 goes on the passthrough entities' box 7 ($50 each) and none goes on the "main entity" K-1. 

 

If the passthroughs report Section 199A ordinary income, you'll have to similarly "deduce" in which boxes that should be reported (box 1, box 5), and leave the "balance" on the "main entity K-1" box 1, box 5.

 

Box 14 is for investment income, and once you figure out the box 1 and box 5 you can hopefully deduce how much belongs on each passthrough K-1, with any "balance" on the "main entity K-1.

 

When you are finished, the box 1 for all three K-1s you entered should equal the box 1 amount on the actual K-1, and so forth.

 

If you can't determine the split for the information you have, you will need to contact the preparer of the K-1."