How to add QBI info for multiple businesses on a single K1

[dthomure052]

I have multiple businesses listed on a Partnership K1, but I cant figure out how to add the info for more than one. How do I do that?

[PatriciaV]

Yes, you can report more than one activity on Schedule K-1, including QBI.

Go to Forms Mode and open Form 1065 p5-6. Note the instructions under Schedule K Income (loss) for multiple activities. Once you check the box beside Lines 1-3, a star will appear on Schedule K-1. You will need to enter the activity information on the Supplemental Information Smart Worksheet under Line 23 of EACH K-1. This information will appear on the second page of Schedule K-1. (Print Preview to confirm.)

Now open 199A Summary under Form 1054 p5-6 to confirm the QBI entries for each activity. The allocations may need to be added to Statement A for each K-1.

If you need additional help, right-click any box or amount and choose Data Source or About.