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You enter 100K as reported in Box 17 code V. The program will calculate how much of the 100K qualifies for the QBI deduction and what the deduction is. If you meet all of the requirements, and input 100K in box 17, you will see 20K reported in Box 9 on your return. But it is not automatic, because the QBI calculation can be quite complicated. That is why it is important to enter the information as you see it on your K-1 and answer the appropriate questions to ensure you are getting the correct calculation on your return.
Please note these input instructions:
This FAQ explains in more detail (click on the View the entire answer, and then the embedded link How is the deduction calculated? (Not for the faint of heart!): https://ttlc.intuit.com/replies/7019998
You enter 100K as reported in Box 17 code V. The program will calculate how much of the 100K qualifies for the QBI deduction and what the deduction is. If you meet all of the requirements, and input 100K in box 17, you will see 20K reported in Box 9 on your return. But it is not automatic, because the QBI calculation can be quite complicated. That is why it is important to enter the information as you see it on your K-1 and answer the appropriate questions to ensure you are getting the correct calculation on your return.
Please note these input instructions:
This FAQ explains in more detail (click on the View the entire answer, and then the embedded link How is the deduction calculated? (Not for the faint of heart!): https://ttlc.intuit.com/replies/7019998
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