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Level 2
posted Oct 2, 2021 6:26:47 PM

How do I enter my K-1 with Section 199A income reported from multiple businesses?

I have one K-1 with only real estate income (box 2).  TurboTax prompts me to enter the Section 199A income - I select that the income comes from another business (see below).  However, when I continue on to the next screen it only allows me to enter the business/EIN from one business, but the income listed on the Section 199A comes from multiple businesses.  How do I enter the activity for each business with a unique EIN on the K-1 record?

 

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1 Replies
Level 15
Oct 2, 2021 7:40:18 PM

unless multiple businesses are included on line 2 it doesn't make sense that there is 199A info for multiple businesses. thus this is likely. I would do the simplest thing. check the first item. when you get to the point to enter the 199A info check the aggregate box and combine the related 199A items.

income/loss,  UBIA, W-2 wages

 

otherwise, you would need a breakdown of the income on line 2 by business. then you would enter each business on its own k-1 along with the related 199A info