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Business & farm
This IRS website states:
Many owners of sole proprietorships, partnerships, S corporations and some trusts and estates may be eligible for a qualified business income (QBI) deduction – also called the Section 199A deduction – for tax years beginning after December 31, 2017.
If Box 14 reports a code I, answer Yes to the question at the screen Does your K-1 have a code I in Box 14?
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April 7, 2025
8:10 AM