I have filed the appropriate K1 tax information on my personal tax returns this year. My two questions pertain to the following: my company said they would pay me back for the federal and state taxes that i had to pay as a result of the K1 income.
Is that repayment back to me not income since it was a tax expense I previously paid, and thus not taxable?
Second, my accountant did the QBI (qualified business income) deduction back on section 199 code V? Is there any issue with the accountant doing that?
