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Have a new client with a k-1 that has 100 QBI activities on box 20z, any friendly advice on what to do here?
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Is each one piddly? I've been known to combine them.
The more I know the more I don’t know.
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There's rental and ordinary income ranging from $1 to $400, I could combine them based on that, they do appear to be apportioned, so I see the logic there.
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It amazes me that most software cannot create totals. I've also had a zillion QBI components that I've had to throw into Excel to add up. Same with many investment houses who have the foreign tax income or the % free of state tax items but cannot add in a total column. We should make software engineers prepare their own tax returns. Grr.
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On the K1 to the left of each line is an icon of a note pad, and if you click on that you can put as many items as you like, and it will add them for you