section 199a deduction

Forum|Forum|6 years ago
January 29, 2020
1 reply
13 views

cooperative sent me a letter detailing the amount of a section 199a deduction. where do I report it?

Farm

RobertG

Level 12

The 199A deduction is not separately reported, it is calculated by TurboTax based on your reported business income.

If you are reporting income from a Schedule C or F, TurboTax will add that income to the calculation. 199A income from partnerships is reported on the K-1.

Cooperatives do not qualify for the QBI deduction under section 199A(a) but may be eligible to take the section 199A(g) deduction. Section 199A(g) provides a deduction for Specified Agricultural or Horticultural Cooperatives (Specified Cooperatives) and their patrons similar to the deduction under former section 199, which was known as the domestic production activities deduction.

See IRS website 199A - Qualified Business Income Deduction FAQs for further information.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"