Is this a partnership? Does the K-1 report code Z in box 20 of the K-1?
At the screen We need some information about your 199A income, many times we see the following 199A information reported:
- Ordinary business income (loss) from this business,
- W-2 wages for this business, and
- UBI of qualified property for this business.
If box 2 is $-148 and box 10 is $+31,818, there may be no 199A information reported because the K-1 reported the loss in box 2.
I do not know what 'Total - 31,670' means.
Are there other boxes reported on the K-1?
@eldon-123
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