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After you file
Yes, this information will go into Box 14 of your K1. When you followed the instructions given to you by ReneeM7122, as you scroll through the entries and enter your information, you will reach a screen that says Check Boxes that have an amount. Be sure Box 14 is selected, in addition to any other Box that has information about the K1.
- Eventually you should arrive at a screen that says enter Box 14 information. Here you will select I-Section 199 information. Leave the amount blank.
- Press continue at the bottom.
- You will pass trough two screens but eventually arrive at a screen that says We see you have Section 199A income. Here is where you start entering information that is on your grantor letter. The information you enter will automatically generate a 8995 and allow you to claim a Qualified Business Deduction on your return
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‎April 14, 2021
6:14 PM
9,919 Views