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Level 1
Sep 6, 2020 3:40 PM UTC
Question

QBI deduction not being calculated - K1 from partnership (1065)

My QBI deduction not being calculated at all.  I received a K-1 from my partnership.  While filing my 1040,  it's not calculating any qbi deduction. 

2 replies

Level 15
Sep 6, 2020 5:13 PM UTC

Does your K-1 have a figure in Box 20 with a "Z" code?

Sep 6, 2020 8:01 PM UTC

if it doesn't have info for 20Z there is no QBI.  if it does there is a separate section on the K-1 worksheet where the QBI info must be entered.