I received a 2019 private equity partnership K-1 with nearly 200 (!) separate properties listed for Box 20 Code Z:Section 199A Information as "US Real Estate" trade/businesses (TB), operated by probably tens of "Relevant Pass Through Entities" (RPE) with distinct EINs. These table listings include various entries for gross QBI, gross QB deductions, 1231 gain/loss, unadjusted basis of qualified property, and more.
Clearly, it's not feasible for me to tally and manually enter each of these RPEs as separate K-1s in TurboTax.
However, my household (married filing jointly) does qualify for real estate QBI, however. So:
1) Does IRS *require* all of these RPEs and QBI to be reported on my 1040? If so...how the heck would I do that? (How would even a tax accountant enter all this data??)
2) If not, and I do not, will I forego the Section 199A deduction on the QBI these reflect?
Note, this partnership is invested in other businesses as well, reflected elsewhere on the K-1, so I have no clear way to ass what the net QBI actually amounts to from these real estate businesses.