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rhs1525
New Member

How do I enter business income from trust k-1 in order to get the QBI deduction.

Turbotax is not treating ordinary business income from a trust as qualified for the QBI deduction.
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2 Replies
Anonymous
Not applicable

How do I enter business income from trust k-1 in order to get the QBI deduction.

on the K-1 worksheet there is section D! and D2 where you enter the QBI info. you'll have to scroll down

DavidS127
Expert Alumni

How do I enter business income from trust k-1 in order to get the QBI deduction.

Here's how to enter your Form 1041 Schedule K-1 with box 14 code I (India) in TurboTax Online:

 

On the screen with box 14 you enter your code I (India), but you don't need to enter any amount on that screen.  Continue on through the interview, and after a couple of screens asking about your qualified business income, you'll come to the screens "We need some information about your 199A income or loss" and "Let's check for some uncommon adjustments" screens (see two screenshots later in this post).  Your Section 199A Statement/STMT amounts will go on those screens.  When you check any line on those screens, boxes will "open up" to enter both your Section 199A Statement/STMT amounts.

 

To get back to the K-1 summary screen and find the Schedule K-1 to edit, click the "magnifying glass Search" icon on the top row, enter "k-1" in the search window and press return or enter, and then click on the "Jump to k-1" link to find the K-1 you need to edit.

 

Here are screenshots for the "We need some information about your 199A income or loss" and "Let's check for some uncommon adjustments" screens where you enter the information from your K-1:

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