Multiple activities for 1065 or 1120-S
I would love to have the ability to add activities on page 1 of the 1065 or 1120-S. This would help with several items, including QBI passthrough, and reconciling client's separate businesses with the tax return. Often, clients will have one LLC that will operate multiple businesses. These aren't real estate rentals, oil and gas, or other places where additional tabs are easily entered. These are just normal operating businesses.
Because depreciation might be specific to those entities, it would be nice to have a "Activity Name or Number" with the page 1 input.
Also, with 199A, we can only aggregate activities if certain requirements are met. See https://accountants.intuit.com/taxprocenter/tax-law-and-news/aggregating-business-entities-for-the-qbi-deduction/. If these requirements aren't met, the only current way to properly allocate this income, wages, and property is to zero out the automatic inputs, and manually create additional QBI businesses and fill them out by hand. If the return is changed, these manual inputs are obviously incorrect.
So, please add a "+" button on the inputs for ordinary income. Thanks.
Also, if you implement this, please provide a worksheet that will summarize all the income, COGS, and deductions from that activity.
