Get your taxes done using TurboTax

Note that the IRS changed the trust K-1 codes in 2019.  The code IC used in 2018 for Form 1041 K-1 Section 199A information is now code I (as in India).

It is very important to Continue through the K-1 interview after you have entered your code I in box 14.  There is a screen later in the interview titled "We need some more information about your 199A income or loss".  This screen must be completed in order for your box 14 code I information to be correctly input into TurboTax.  Check the box(es) applicable to your 199A statement and you will get a box to enter the amount.

Here is a screenshot of the page you need to complete:

Depending on the information reported with your K-1, you may also need the next screen in TurboTax for "uncommon adjustments":

Note also that TurboTax updates since 3/10/2020 have resolved some issues related to QBI, including an unnecessary question about reporting the business name and EIN. If you are using a TurboTax Home and Business Download/CD, check for updates to your TurboTax (menu at top, Online>>Check for Updates).

To get back to the K-1 summary screen and find the Schedule K-1 to edit, click the "magnifying glass Search" icon on the top row, enter "k-1" in the search window and press return or enter, and then click on the "Jump to k-1" link to find the K-1 you need to edit.