I'm entering K-1 deductions TT asks for the code and the amount. My form has two codes for box 17 (199A), but the amounts listed are Stmt. Do I leave these boxes blank?

[AmyC]

No, please look at your statement for the correct amounts to enter. The section 199A relates to QBI and you may need additional information so they listed it on the statement.

[allison7]

Thank you so much.  They list three numbers for one code:

Ordinary Income (loss)

W-2 Wages

Unadjusted Basis

In our case the ordinary income is a negative number and the other two numbers are positive.  Do I add the three numbers together and enter them?

[JamesG1]

No, you do not add them together.

For a K-1 for a partnership, follow these steps.

• At the screen Enter Box 20 info, you likely need to select code Z Section 199A information.  I have seen comments that the Amount does not have to be entered but I enter the Box 1 number if a value is not provided.
• Click Continue.
• At the screen We need some information about your 199A income, you will likely need the following information:
• Business income (loss),
• W-2 wages for this business, and
• UBI of qualified property for this business.
• Enter these values for the qualified business income deduction to be calculated.