IRS Partner's Instructions, page 29, states:
Code Z
Section 199A information
Generally, you may be allowed a deduction of up to 20% of your net qualified business income (QBI) plus 20% of your qualified REIT dividends, also known as section 199A dividends, and qualified PTP income from your partnership. The partnership will provide the information you need to figure your deduction.
For IRS Schedule K-1 (1065), at the screen Enter Box 20 info, select code Z Section 199A information. A value does not have to be entered.
Then click Continue.
At the screen We need some information about your 199A income, click the box to the left of the item to be entered. An entry box will open. You may be entering:
- Ordinary business income (loss) from this business,
- W-2 wages for this business, and
- UBIA of qualified property for this business.
Enter value(s) for the qualified business income deduction to be calculated.
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