Is the 20% deduction for pass through corporation get calculated in the K1 form

[visko]

Does the 20% deduction for pass through corporation get calculated in the K1 form

[TaxGuyBill · Accepted solution]

No, the calculation is not on the K-1.  The calculation is done on your personal tax return (although the K-1 does contain some information which affects the calculation).

[visko]

Thanks ... To project I used last years K1  information which may be the problem. Is there a major item that needs to be checked