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Please clarify what type of entity sent you Schedule K-1. Was Box 14 or Box 16 checked? Was there supplementation information provided regarding Section 199-A?
Thanks for responding. Trying to figure out how to reply. Turbo Tax makes this difficult.
Neither box 14 nor box 16 was checked. The K-1 is from a partnership that is a small part of a stock portfolio. There was no supplemental information regarding section 199A. I don't know where to find that.
The qualified business income (QBI) loss would be entered in box 20, with code "Z" if you have a partnership K-1 schedule. It would be in box 17 with code "V" for an S corporation. If you don't have anything listed in those boxes, you can enter $0 for the QBI loss.
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