K-1 box 20 refers to STMT for QBI Pass through Reporting, which has multiple entities & multiple entries per entity. How do I calculate or enter net value into TT?

[JamesG1 · Accepted solution]

Partnership K-1 box 20 needs to be completed for the software to invoke 199A qualified business income deduction calculation.

• 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.
• At the screen We need some information about your 199A income, you will likely need the following information:
• Ordinary business income (loss) from this business,
• 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.