QB income deduction does not reflect on my return

[hm783877hm]

Why my QB income deduction does not reflect on my return (even I checked QB income box)?

[AkinaLO]

What does it say when you get to that section?

[hm783877hm]

Nothing, just ask me if qualify QB income, if so check the box. Thank you.

[JamesG1 · Accepted solution]

What is the source of your Qualified Business Income?

The Qualified Business Income Deduction can be generated from one of two components.

• The QBI component can result from a sole proprietorship, partnership, S corporation, trust or estate.  The first component would likely be reported on Schedule C, Schedule E, Schedule F or a K-1.
• The REIT / PTP component can be generated from qualified real estate investment trust (REIT) dividends or qualified publically traded partnership (PTP) income.  The second component could be reported on 1099-DIV or a K-1.

Qualified business income reported on a K-1 will require:

• Box 17 code V for 1120S, or
• Box 20 code Z for 1065.

See also this TurboTax Help