K-1 Pass-through Entity

Forum|Forum|3 years ago
August 30, 2022
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I have a schedule K-1 partnership which consists multiple underlying pass-through entities.

Under Box 20, code Z - section 199A information, there are multiple entities listed - some have the same EIN and others are different.

Question: when answering questions in the desktop version of TT for ordinary business income, rental real estate income, W2 wages, qualified property etc, should I enter only the summary amount across all entities for each category, or should I specify each passthrough EIN separately and enter their individual amounts separately?

TurboTax Home & Biz Windows

Best answer by Anonymous_

I would separate them by EIN.

Anonymous_Answer

Level 15

I would separate them by EIN.

markmartian

Level 4

If you don't break out each pass-through entity into a new Turbotax K-1 entry, and just add up all the pass-through entity figures to reach a total for each category, how does that effect the Ttax calculation of the section199A deduction? What is the rationale of splitting it up? What is the flow of the calculation? Why is it necessary to create a new Ttax entity for each pass-through ein, and how will it throw off the result? Curious. Thanks.