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ashishp2021
Returning Member

Section 199A help needed while entering in TT

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) ? 

 
Screen Shot 2023-04-05 at 11.52.42 AM.png
 

Screen Shot 2023-04-05 at 11.52.48 AM.png

 

 

 

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3 Replies
ashishp2021
Returning Member

Section 199A help needed while entering in TT

@MonikaK1 , @LindaS5247 @JosephS1 , @ShirlynW 

Please help me with my query. 

JamesG1
Expert Alumni

Section 199A help needed while entering in TT

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.

@ashishp2021 

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ashishp2021
Returning Member

Section 199A help needed while entering in TT

Spoiler
Thank you very much @JamesG1 

I was able to complete it with your suggestion.

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