itonewbie
Level 15
12-07-2019
07:44 AM
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@mdaviscpa This means you ***are*** preparing the 1102S and not the 1040, right? Otherwise, you wouldn't be entering anything "into 1120S via Partnership K1 entry worksheet".
If those figures are not coming out on the shareholder K-1 with Code W or X, you may just need to include those on a supplemental statement; part of the reason could be that QBI items related to each qualified trade or business should be listed separately and Line 17 (by how PS is programmed cannot be broken down into separate ToBs) is likely reserved for QBI items that are coming directly from the S corp and not other RPEs.
If those figures are not coming out on the shareholder K-1 with Code W or X, you may just need to include those on a supplemental statement; part of the reason could be that QBI items related to each qualified trade or business should be listed separately and Line 17 (by how PS is programmed cannot be broken down into separate ToBs) is likely reserved for QBI items that are coming directly from the S corp and not other RPEs.
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