1) After you enter Code I for Box 14:
- Continue with the interview until you see "We see you have Section 199A information."
- Check the box that applies (usually the first option).
- On the page "We need some information about your 199A income," be sure to check the first box and enter at least one type of income. If it appears as a negative number, enter the amount with a minus sign.
- Check any other boxes (if any) that appear on Statement A and enter the related amount.
- Continue back to the K-1 summary page.
2) Yes, report this as income from the trust itself. In other words, enter the name and EIN of the trust.
3) Some excess deductions are not deductible, like attorney and accounting fees (and any that reference Section 67(b)). The taxes may be entered under Deductions & Credits >> Personal Property Taxes.
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