Business & farm

The rental income, the unadjusted basis of assets immediately after acquisition (UBIA) and the qualified business income (QBI) deduction can be entered into the 1065-K1 as follows.

• Where do I enter a Schedule K-1 I received?

1. Line 2: Rental income 
2. Line 20: QBI (also known as Section 199A) - Select Code Z - Continue to follow the screens to the UBIA
3. Line 20: UBIA -Follow up question

See the images below to enter your information for 2 and 3 above.