I have a K1 that only has net rental real estate income BUT has Box 20, Z checked. I do have the Statement A with my K1 and it lists that income as net rental real estate income. However, when I enter the K1 into TT along with Box 20, Z information, it asks me to enter the type of income but doesn't include net real estate income as an option.
When I click on "Why do I need to enter something here?", it shows I should be able to choose net real estate income.
What TT says I can enter (note net real estate income is missing)
My statement A from my K1
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199a is business income.
Business income is a separate category on Statement A
"Net rental real estate income" is synonymous with "Rental Income" for QBI.
I appreciate the response, but you’ll notice That rental income is not actually a checkbox option, even though it is mentioned in the help section.
Click the first option "Company Name" has a business income (loss). When you do, the Rental Income (loss) option will appear along with a few other options to select. Took me a while to figure this out.
Yes, I figured this out too but it’s bad UI because it’s not formatted that way either on Statement A (the paper form) or in the help box.
Agree on the bad UI. Had to find this help article to get an answer.
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