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Level 1
posted Mar 2, 2025 10:21:46 AM

Form 1065 Statement A - QBI pass through

Hello,

 

First time with TT Business, I have a LLC for rental real estate that does not qualify for the QBI deduction, its a 2 person LLC. I manage the property and basically get 54% of Rental Income vs 46% for my partner to compensate me for my time. I have noticed and not sure if it matters since we are not electing QBI deduction that on Statement A - QBI pass through entity reporting, that Rental income is split accordingly(54% on mine, 45% on my partners) and UBIA of qualified as well according to these percentages.

My question is can I override the UBIA of qualified to 50%/50%, it will not let me and keeps referring me back to 199A worksheet but I cannot figure how this will let me adjust to 50/50?

 

0 1 1632
1 Best answer
Expert Alumni
Mar 3, 2025 2:16:53 PM

Yes, you can adjust the allocation of UBIA by manually entering the desired amounts on the individual copies of Statement A with each K-1.

 

You can do this using Forms Mode in TurboTax Business

 

  1. Open your return and click the Forms icon in the TurboTax header. 
  2. In the list of Forms in My Return on the left, scroll down and look for Statement A under each Schedule K-1. 
  3. Click the form name to open it in the large window. 
  4. On the UBIA line, the allocated amount from Form 1065 Line 22 is in a blue font. This means it can be changed with a direct entry. 
  5. Enter the amount for this partner.
  6. Repeat Steps 2-5 for all other partners.
  7. Click Step-by-Step in the header to return to the main screens.

1 Replies
Expert Alumni
Mar 3, 2025 2:16:53 PM

Yes, you can adjust the allocation of UBIA by manually entering the desired amounts on the individual copies of Statement A with each K-1.

 

You can do this using Forms Mode in TurboTax Business

 

  1. Open your return and click the Forms icon in the TurboTax header. 
  2. In the list of Forms in My Return on the left, scroll down and look for Statement A under each Schedule K-1. 
  3. Click the form name to open it in the large window. 
  4. On the UBIA line, the allocated amount from Form 1065 Line 22 is in a blue font. This means it can be changed with a direct entry. 
  5. Enter the amount for this partner.
  6. Repeat Steps 2-5 for all other partners.
  7. Click Step-by-Step in the header to return to the main screens.