I'm not getting any QBI reduction in the K1 pass-through distributions to the shareholders of the business. I went through the same procedure as I did last year on the 2023 return. I get to the point in 2024 TT Business "Is this a Qualified Business Income", answered Yes the income is QBI. Next screen is the "specified services" list (health, Law, etc) to which I answered No. Next section is Section 179 Carryover which I left blank since I have no carryover from previous years. What appears to be missing from last year's 2023 TT Business step-by-step, is verifying this is a QBI.
Upon opening the K1s, there is no Statement A - QBI Pass-through Entity Reporting form. And of course there is no UBIA of qualified property entry. Last year that amounted to over $5K for each shareholder. Is this a bug? What is the work-around? Not even sure how to calculate the QBIA reduction amount.
