- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
No, the dollars aren't material. The K-1 is not for a PTP. The entities listed in the Section 199A Information notes don't specifically indicate, but I'm assuming they are not PTPs either. They all add up to an immaterial income ($2,369).
I'm wondering if an acceptable workaround would be to list each entity and the applicable dollar amount in a supporting statement on each line in Section D1 (Statement A). This would seem to provide the desired level of granularity and generate only one K-1 worksheet, instead of 25. Thoughts?
For the Net Rental Real Estate Income (Loss) amount, I did go ahead and generate a second K-1 worksheet which just has the partnership name/EIN and the rental income amount. This at least got rid of the error PS gave me when I had both that and Ordinary Business Income listed on the same worksheet.