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Understand UBI in K1 Aggregator: Where It Appears and How Totals Work

K1 Aggregator tracks Unrelated Business Income (UBI) alongside taxable income so you can review both for each investment. This article explains where UBI appears, where the amounts come from, and how totals work.

Where UBI Appears

Location

Where to find it

What it shows

Federal/State Taxable Income tab

Investment page > Tab

Taxable income lines for the investment.

Federal/State UBI tab

Investment page > Tab

UBI amounts by line, and UBI by state.

Manage Investments

K-1 Aggregator > Page

A Federal/State UBI total for each investment.

Review Investments

K-1 Aggregator > Page

The State Taxable Income and State Unrelated Business Income grids.

K-1 Income/Expense Summary and K-1 Line Item Summary

Reports and exports > Reports

Federal taxable income or UBI by line, based on the instance’s Income Type.

State Income Summary, State Apportionment Summary, Passive Activity Loss Summary and Capital Account Analysis

Reports and exports > Reports

For instances with Income Type Both Taxable Income and UBI, use Select Income Type to choose which amounts the report shows.

State Income Summary

Reports and exports > Report

Mirrors the columns on both the State Unrelated Business Income tab and the State Taxable Income tab.

State Unrelated Business Income (990 instances)

Reports and exports > Report

State UBI from all investments, including taxable income, withholdings, composite adjustments, and additions and subtractions.

Export Selected Investments (including the Standard Row Template, Federal and State UBI)

Investments page > Bulk action

UBI amounts in Excel.

.K1X Digital File and API

Investment page > Data export/integration

The Federal UBI amount, the custom UBI percentage and the UBI value for each state.

 For descriptions of the other reports, see Summary of K1 Aggregator Reports & Exports. 

 Where UBI amounts come from

  • K-1 Reader. When the K-1 package includes a UBI statement, the Reader can read the amounts. It can miss or misplace values, especially for state data, so review them.
  • Manual entry on the Federal/State UBI tab.
  • Reclassification. Reclassifying a line on the Federal/State Taxable Income tab moves the amount to the UBI tab when the reclass is complete. See Auto Reclass Feature in K1 Aggregator.
  • Income Type. Each instance has an Income Type setting: Taxable Income, UBI, or Both Taxable Income and UBI. Sections that apply to one type appear only when the instance uses that type.
  • The Taxable Income tabs and the UBI tabs hold separate amounts. K1 Aggregator does not add them together on screen.
  • On Form 1065, line 9a is included in the totals. Lines 9b and 9c are not added to them.
  • Multiply Federal By applies a percentage to the Federal K-1 Amount to produce the Federal UBI Amount on the Federal/State UBI tab. The options are K-1 x or UBI x Profit %, Loss %, Capital % or Custom %. For Custom %, enter the percentage.

How totals work State withholding, composite and modifications

Withholding, composite and modification amounts have their own sections on the Taxable Income and UBI screens. They also appear in the Review Investments grids and totals.

  1. Open the investment and go to the Federal/State Taxable Income tab.
  2. In the Withholding section, select the green plus (Add Entry).
  3. In Select category..., choose State Income Tax.
  4. Enter the amount. It saves when you leave the amount field. There is no Save button for this section.
  5. Open the Federal/State UBI tab. The State Income Tax withholding appears for the state.

For tax year 2025 and later, withholding and composite use fixed category lists. Withholding: State Income Tax, Nonresident Addback, Credit Entity Level, Rate Override Adjustment, PTE Tax Reconciliation and Other Withholding.

Composite: State Income Tax, Nonresident Election, Multi-State Addback, Eligible Participant Adjustment, Rate Override Adjustment and Other Composite.

Tax year 2024 uses the line item rows on the same tab. Only State Income Tax amounts appear on the Federal/State UBI tab.

UBI in the 990 Tracker Form 990-T

UBI from an investment flows to Schedule A (Form 990-T), Part I, Line 5, Income (loss) from partnerships and S corporations. In the 990 Tracker engagement, map the investment in Review Investments, select Add Investment Activity, then select the refresh arrows to bring in the current amounts. See K1 Aggregator Integration with 990 Tracker.

Refreshing replaces manual edits you made to the mapped amounts.