- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Investors & landlords
I've seen two different answers from experts on this now. Both say that when you have a K1 from a partnership that lists multiple pass-throughs in Box 20, code Z, you need to create multiple K1 entries to accommadate each individual pass-through.
But in this thread, expert @DavidS127 says that you need to split the box amounts up to align with each pass-through K1 you create. You need to figure that out. The 199A statement should give you the details for the pass-throughs, and I suppose the remainder - the main boxes minus the sum of the pass-throughs - gets attributed to the main partnership.
In a different thread here (https://ttlc.intuit.com/community/business-taxes/discussion/re-how-to-enter-multiple-sec-199-passthr...), expert @DaveF1006 says you can put the full box amounts on the first K1 with the main partnership, and then when you create the rest of the K1 entries, you put the main partnership info (name, address, etc), and then leave all the boxes blank except for box 20. Then go through the step of entering the pass-through info for each one. (and you can list one of the pass-throughs on the main K1).
Are these incompatible, or are they two different ways of entering info in Turbotax that result in the same, correct entry on the actual forms?