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Get your taxes done using TurboTax
the partnership did not generate any QBI. code V is for unrelated business taxable income (UBIT) which has no relevance to an individual taxpayer. however, if the partnership was owned by a tax-exempt entity such as an IRA and if the total from all entities is more than $1,000 of UBIT the entity would have to file form 990-T which Turbotax doesn't do.
‎September 10, 2022
1:07 PM
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