To report your K-1 and report all the supplementary information on Statement A.
- Go to federal>wages and income>Business Investment and Estate/Trust income>Schedule K1
- Enter information on your form in accordance with the questions asked.
- After entering the information regarding your K-1. Enter information if any in Boxes 1,2, and 3. Check the box that indicates there are amounts in more than Boxes 1,2, &3.
- Check Box 20 and press continue.
- Now enter the numbers on the form, when you enter information in Box 20
- Pick code Z from the drop down, if there is no amount to enter next to it, leave blank. Turbo Tax will determine that amount from the questions that follow. press continue
- Continue through the sections. Be sure to mention that your investment is at risk.
- And then continue through the interview, there will be questions asked that is on Statement A. Whatever is entered will determine if you are qualified to take the QBI deduction.
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