If you received income from a partnership, an S corporation, or a trust, you should have received a Schedule K1. The schedule will have a Section 199A Statement that will contain the information needed to calculate your QBI.
You'll need this to enter your information into TurboTax using the following steps:
- Open your return.
- Navigate to Schedule K-1:
- TurboTax Online or Mobile: Go to Schedule K-1.
- TurboTax Desktop: Search for Schedule K-1 and select the Jump to link.
- Answer Yes on the Schedules K-1 or Q screen.
- On the Tell Us About Your Schedules K-1 screen, select Start or Update next to the type of Schedule K-1 you received.
- Follow the on-screen instructions to enter your Schedule K-1.
If you have a Schedule C, the program will figure out your deduction and ask you the necessary questions as you enter your business information.
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