PatriciaV
Expert Alumni

Business & farm

Form 1065 Line 20 reports Investment Income items, none of which are included in QBI. Unless you have qualified rental income, only the amount on Line 1 Ordinary business income would be used for QBI.

 

If you prepared the business return, you might review your entries for business credits to be sure you didn't choose something that implied using Code X. If no supplemental information is entered on the related forms, you won't see an explanation on the K-1.

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