Deductions & credits

20z entries go nowhere and do not affect your return. In Turbotax, there is a subsection to the K-1 to enter 199A info that does affect your return.  i can't tell you why there would be 20 items unless you had a tiered partnership.  the issue with tiered partnerships is that the IRS has not clarified if the QBI info for each entity needs to be reported separately or if similar amounts like w-2 wages can be combined. 

 

the Turbotax section for 199A info for a partnership K-1may say "shareholder". this is just bad wording by Turbotax since you don't have shareholders in a partnership. Think "partner" 

 

this is from 1065 k-1 instructions for 20Z. I have deleted certain wording that can be ignored because the entries are made through the Turbotax k-1 interview process and are not entered directly on 8995. Turbotax completes that from your entries

 

QBI/qualified PTP items subject to partner-specific determinations. The amounts reported to you reflect your distributive share of items from the partnership’s trade(s), business(es), or aggregation(s), and may include items that are not includible in your calculation of the QBI deduction. When determining QBI or qualified PTP income, you must include only those items that are qualified items of income, gain, deduction, and loss included or allowed in determining taxable income for the tax year. 

 

W-2 wages. The amounts reported reflect your distributive share of the partnership’s W-2 wages allocable to the QBI of each qualified trade, business, or aggregation.

Unadjusted basis immediately after acquisition (UBIA) of qualified property. The amounts reported reflect your distributive share of the partnership’s UBIA of qualified property of each qualified trade, business, or aggregation.

Section 199A dividends. The amount reported reflects your distributive share of the partnership's net section 199A dividends. 

Patrons of specified agricultural and horticultural cooperatives. If the partnership was a patron of an agricultural or horticultural cooperative (specified cooperative), there are should lines in Turbotax for these 

QBI items allocable to qualified payments from specified cooperatives subject to partner-specific determinations. The amounts reported to you reflect your distributive share of items from the partnership’s trade(s), business(es), or aggregation(s), and include items that may not be includible in your calculation of the QBI deduction and patron reduction. 

W-2 wages allocable to qualified payments from specified cooperatives. The amounts reported reflect your distributive share of the partnership's W-2 wages allocable to the qualified payments of each qualified trade, business, or aggregation.

Section 199A(g) deduction from specified cooperatives. The amount reported reflects your distributive share of the partnership’s net section 199A(g) deduction.  I don't see a separate line for this so it may need to be subtracted from the coop net income