The entry is related to the partnership. Line 28 of IRS form 8995-A Qualified Business Income Deduction reports
Qualified REIT dividends and publicly traded partnership (PTP) income or (loss).
The value may be computed from the information reported by the publicly traded partnership. Section 199A information is entered at the following screens:
- Enter Box 20 Info,
- We see you have Section 199A income, and
- We need some information about your 199A income.
IRS Partners Instructions for Schedule K-1 (Form 1065) pages 18 and 19 states:
Code Z. Section 199A information
Generally, you may be allowed a deduction of up to 20% of your net qualified business income (QBI) plus 20% of your qualified REIT dividends, also known as section 199A dividends, and qualified PTP income from your partnership. The partnership will provide the information you need to figure your deduction. Use one of these forms to figure your QBI deduction.
1. Use Form 8995, Qualified Business Income Deduction Simplified Computation, if all of the following apply.
- a. You have QBI, section 199A dividends, or PTP income (defined below).
- b. Your 2022 taxable income before the QBI deduction is equal to or less than $170,050 ($340,100 if married filing jointly).
- c. You aren’t a patron in a specified agricultural or horticultural cooperative.
2. Use Form 8995-A, Qualified Business Income Deduction, if you don't meet all three of the above requirements.
Use the information provided by your partnership to complete the appropriate form listed above. For definitions and more information, see the Instructions for Form 8995 or the Instructions for Form 8995-A, as appropriate.
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