Sam153
Level 1
06-26-2020
03:01 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
In an 1120S 2019 tax return, how do you complete the K-1(s) when you have ordinary income for line 1 of K-1 and rental real estate from Form 8825 for K-1 line 2?
Do we need to complete two K-1 Forms?
How is 199A info managed in this scenario?
Labels
MELEA
Level 1
06-26-2020
03:28 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Enter one K-1 with everything except Box 2. Enter a second K-1 with just the S-corp information and Box 1. I'm not sure how QBI gets handled, especially if one box has income and the other has a loss.