Form 1065 K-1 "Statement A - QBI Pass-through Entity Reporting" Data Entry

[ephraim6431]

Hello, I am using TurboTax Deluxe and am trying to find Statement A - QBI Pass-though Entity Reporting so I can enter five lines of Trade or Businesses data.  Do I need to buy TurboTax Business in order to get access to this form?  If not, how do I access this Statement A - QBI?

[alvy54]

So for each business that reported Section 199A amounts, do you just use the same values from boxes 1-22 from the K-1 statement sent by the partnership when entering separate K-1s into TurboTax for each business?  I don't see any amounts reported by the partnership in the Section 199A amounts.

[Anonymous_]

@alvy54 

Does your K-1 have a figure on Line 20 with a Z code?

If not, you do not have to be concerned with Section 199A.

If there is a figure on that line with that code, then you should have received a supplemental statement with your K-1.

[alvy54]

Yes, there is a Z code on Line 20 and I did receive supplemental statement.  In the supplemental statement there are 55 business that reported amounts.  I understand that I need to enter a separate K-1 for each business.  My question is, do I use the same values in box 1-22 (except for 20) from the K-1 statement I received to enter for all of the separate K-1s into TurboTax?

[ezreub]

I have this question too: On my K-1, I have pass-through (from another entitity) and GTB income on Statement A. I understand that I need to submit two separate K-1's for TT--one for the pass-through entity and one for the income generated by the entity for which I received the K-1. What I don't understand is what I should be doing about the numbers on the K-1 in boxes 1-20. Do I split those amounts apart when I submit the two separate K-1's to TT? Do I use the same numbers twice (that would seem like double-reporting)?

[JamesG1]

Ideally, the preparer of the K-1 and attachments has provided a breakdown for what may be reported on each of the K-1 entries.  This would insure the proper cost basis for the assets and proper qualified business income deduction.  See sample.

Original K-1                                                                         1                                                             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

@ezreub 

[Edited 04/10/25 | 7:17 pm PST]

[JamesG1]

@ezreub 

[Edited 04/10/25 | 7:27 pm PST]

[JamesG1]

@ezreub 

[Edited 04/10/25 | 7:27 pm PST]