I've read a lot about this and know this can be complex. When creating the 1065, TurboTax calculates all the info, but I want to understand why it's doing. So I'm looking for an answer to a simple example:
If hypothetically, one of the LLC partnership members has $100 of income, with $50 into retirement (so Box 13 code R), and SE tax of $10, and Box 14 is $100... and they have $10 of mileage deduction - beyond that nothing else - no wages and this is all just straight business income.
Then would their Box 20 Code Z Section 199A be $100, $50, $40, or $30?
Thanks
