- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
When a K-1 received by an individual has multiple businesses listed under the 199A footnote, is there any way to enter the information for each business other than opening even more K-1 Partner worksheets?
It wasn't an issue previously because the number of businesses matched the number of K-1 Partner worksheets I had to create for the different types of income listed on the actual K-1.
Best Answer Click here
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
There is no need to enter each separate activity. Total them up. It amazes me none of the pro tax software's total. I have real estate entities with tens to hundreds of separate activities and then have to waste my time totaling each 199a line item.
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
This makes me so happy.
Tax software companies are not much different than the stock companies; I just had to manually add up the foreign source dividend income because it's apparently too difficult for Merrill Lynch to just provide the total (even though they total up the foreign taxes paid).
