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How do I indicate that income from a Schedule K-1 should be treated as qualified business income (QBI) for the purpose of taking advantage of the QBI deduction?
When entering business income for a separate Schedule C, I'm prompted to indicate whether the income is QBI -- and when I indicate that it is, TurboTax incorporates that in my QBI deduction amount. However, when I enter a K-1 that I received from a pass-through entity I own, I do not see this prompt nor any other way to indicate that income listed on my K-1 is QBI.
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‎June 4, 2019
5:02 PM