K-1 Line 20 Z (199A) with multiple activities

ftusa
ftusa Member Posts: 2 Newcomer
edited April 10 in Income

I have a single K-1 form with multiple rental properties and Passthrough entities listed in the SECTION 199A INFORMATION, BOX 20, CODE Z, like below:

Rent - Property 1 address
RENTAL INCOME (LOSS) -****.
UNADJUSTED BASIS OF ASSETS xxxx.

Rent - Property 2 address
RENTAL INCOME (LOSS) -****.
UNADJUSTED BASIS OF ASSETS xxxx.

PASSTHROUGH - ABC LLC
EIN: 9999999
RENTAL INCOME (LOSS) -****.
UNADJUSTED BASIS OF ASSETS xxxx.

PASSTHROUGH - XYZ LLC
EIN: 11111111
RENTAL INCOME (LOSS) -****.
UNADJUSTED BASIS OF ASSETS xxxx.


How do I enter this information when I get to the "Enter the amounts from your K-1 QBI statement" screen? Should I sum up all the RENTAL INCOME (LOSS) and UNADJUSTED BASIS OF ASSETS values from the K-1 and enter in the Rental Income (Loss) and UBIA of Qualified Property fields in this screen? Or, should I create multiple K-1 entries using the same partnership name and EIN as the first entry, where I do not repeat any amounts except the Box 20 Z field in subsequent entries (Box 2, 5 and Box 20 A, N are entered only on the first K-1 entry) and then enter each line item from 199A into the QBI statement screen?

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