Section 199A help needed while entering in TT

Forum|Forum|3 years ago
April 5, 2023
2 replies
3 views

On my K1 in box 20 I have below information (look at screenshot)

N - Business Interest Income - 580

Z -

Column A = -5120

Column B = -10293

Column C = -15974

W2 Wages

Column A = 19

Column B = 44

Column C = 67

Qualified Property

Column A = 14819

Column B = 28303

Column C = 38730

My question is what do I enter while filling up Box 20 info for Z - Section 199A Information? (please look at screenshot)

Do I add all the 3 net rental real estate income(loss) ?

ashishp2021Author

Level 2

@Monikak11 , @LindaS5247 @JosephS1 , @ShirlynW

Please help me with my query.

JamesG1

Level 15

I assume that you entered all the real estate activity on one K-1 entry. Learn more at the screen Choose Type of Activity states:

Note

If your K-1 shows more than one type of activity, treat each one separately. Enter all business items on one K-1, all real estate rental items on another K-1, and all other rental items on a third K-1.

If you entered the total of all of the real estate activities under Box 2 at the Screen Choose Type of Activity, enter the total of the net rental real estate income / (loss), W-2 wages and qualified property at the screen We need some information about your 199A income.

At the screen Enter Box 20 Info, select Z-Section 199A information. Leave Amount empty. This tells the software that Section 199A information will need to be entered for the income previously reported. Click Continue.
At the screen We see you have Section 199A income, select the appropriate income description. Click How would I know this? for more information.
At the screen We need some information about your 199A income, select the appropriate income description and amount from the 199A detail provided with the K-1. Click Continue.