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PeteKoch
New Member

For an MLP preferred, amounts appear in K-1 Form 1065 in Lines 4 and 19. L20 Code is AD amount 0. NO QBI treatment by TT Premier. Error ?

 
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DawnC0
Intuit Alumni

For an MLP preferred, amounts appear in K-1 Form 1065 in Lines 4 and 19. L20 Code is AD amount 0. NO QBI treatment by TT Premier. Error ?

There would not be any QBI calculated as code AD (Section 199A PTP income) is zero on your K-1.  The QBI related codes are Z-AD from box 20 on your K-1.  If those codes (see below) are not on your K-1 in box 20, the deduction will not calculate in TurboTax.  The following information is required for the QBI deduction.  

  • Z    Section 199A income 
  • AA Section 199A W-2 wages 
  • AB Section 199A unadjusted basis 
  • AC Section 199A REIT dividends 
  • AD Section 199A PTP income

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