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After you file
After entering the info from Schedule K-1, continue to the page Let’s check for uncommon adjustments. Enter any applicable Section 199A Statement amounts. These screens, to the extent applicable to your Section 199A statement, must be completed for your K-1 QBI information to be correctly entered into TurboTax
- If your section 199A Statement has amounts related to the W-2 wages of your business or UBIA of qualified property, an amount must be entered or no QBI deduction will populate on your tax return. If left blank or zero is entered, no deduction is allowed.
See also: How do I claim the Qualified Business Income Deduction as a Schedule K-1 Recipient?
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April 12, 2022
1:26 PM