Help entering 199A QBI for multiple business partnerships

[cherylr]

I am entering my Schedule K-1 as a limited partner and trying to figure out where to enter the QBI 199A information for multiple business names in the Desktop Premier Version.  The question prompts don't seem to be offering this option.   

[Mike9241]

in the desktop version switch to forms mode then go to the Turbotax k-1worksheet.

scroll down to section D1

check any of the following boxes that apply 1) PTP, 2) Aggregated 3)SSTB 

enter the 199A/QBI info as shown in box 20z of partnership k-1s (would be 17z for S corp K-1s) 

TurboTax does not use the entries in 20Z so they have to be entered in this section 

[cherylr]

Thank you.  I found that section, but only see the option to enter one business name/EIN and corresponding data.  Is there a way to add additional ones (I have 4 total)?  I only received 1 K-1 for the partnership, these are then 4 business names under that partnership.

[JamesG1]

If your 'line 20-Z' information provides more than one EIN, do your attachments also provide a breakdown of the other K-1 boxes by EIN?

It may be possible to enter two separate EIN entries for boxes 1 through 20 as if you received two separate K-1 forms.  This would insure the proper cost basis for the assets and proper qualified business income deduction.

Original K-1                                                                         EIN 1                                                     EIN 2

Box 1     $1,000                                  =                             $1,000

Box 2     $500                                     =                                                                                                $500

Box 4     $100                                     =                                  $75                                                          $25

Box 5a   $200                                     =                               $150                                                           $50

Box 5b   $100                                     =                                 $75                                                           $25

W-2 wages $50,000                           =                             $25,000                                                 $25,000

UBIA $100,000                                   =                             $50,000                                                 $50,000

[JamesG1]

If your 'line 20-Z' information provides two EIN's, do your attachments also provide a breakdown of the other K-1 boxes by EIN?

It may be possible to enter two separate EIN entries for boxes 1 through 20 as if you received two separate K-1 forms.  This would insure the proper cost basis for the assets and proper qualified business income deduction.

Original K-1                                                                         EIN 1                                                     EIN 2

Box 1     $1,000                                   =                             $1,000

Box 2     $500                                      =                                                                                             $500

Box 4     $100                                      =                             $75                                                          $25

Box 5a   $200                                      =                             $150                                                        $50

Box 5b   $100                                     =                              $75                                                          $25

W-2 wages $50,000                           =                             $25,000                                                 $25,000

UBIA $100,000                                   =                             $50,000                                                 $50,000

[cherylr]

Yes, I have a "table" similar to your example above with separate amounts listed under each EIN.  So how would that be entered to show the different amounts for each EIN, but all still under the same partnership K-1?

[JamesG1]

Within the partnership K-1 entry, at the screen Choose type of activity, select This K-1 reports amounts in more than one of boxes 1, 2 or 3.

Below it states:

Since your K-1 reports amounts in more than one of boxes 1, 2, or 3, the partnership/LLC is involved in more than one type of activity. You should treat each activity separately in TurboTax.

Enter the business activity amount, box 1, on one K-1
Enter real estate rental activity amount, box 2, on another K-1
Enter other rental activity amount, box 3, on a third K-1.

This will allow TurboTax to properly track your loss carryovers. 

Depending upon the information that you have been given, individual 'K-1' entries may be entered into the TurboTax software, each one reporting income and Section 199A information.