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marathiboy
Level 2

S-Corp income reported on 1040 schedule C or Schedule E? My S-Corp K1 information is showing correctly on Schedule E but I am not getting any QBI. Very confusing..

 
1 Reply
JulieCo
New Member

S-Corp income reported on 1040 schedule C or Schedule E? My S-Corp K1 information is showing correctly on Schedule E but I am not getting any QBI. Very confusing..

In order for SCorp K-1 income to be included in QBI calculation, there must be amounts in Box 17 with codes in the V to Z range.  See the Box 17 code explanations attached below.  In addition,  you must get all the way through the K-1 entry for the QBI deduction to calculate.

The QBI is a personal income tax deduction and will be reported on line 9 of the 1040 form.

Here is more information:

https://ttlc.intuit.com/replies/7019998


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