Hi,
I should only enter my % of the company share or income when entering # on the ordinary business income, W-2 wages, UBIA of qualified property of 199A Income from the Schedule K-1 and Statement A received from my CPA? For example, if I own 70% of my company and my partner has the remaining 30% ownership, I should only enter in $70,000 ordinary business income Section 199A income on my personal tax return not $100,000? [ assuming S-Corp ordinary business income for the year is $100,000.]
I'm on the page titled, "We need some information about your 199A income, you told us you have 199A income or loss. ......Schedule K-1 with Statement A....; somehow, turbotax generated $100,000 in the ordinary business income instead of $70,000 which is my share of the company.
Thanks
