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See what's trending for the November 15th deadline (Form 990) and resources for the upcoming tax season. View ProSeries Hot Topics.
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- Re: Two K-1's for ordinary and rental real estate income in SCorp
Two K-1's for ordinary and rental real estate income in SCorp
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Sam153
Level 1
06-26-2020
03:01 PM
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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?
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MELEA
Level 1
06-26-2020
03:28 PM
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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.
