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S-Corp income reported on 1040 schedule C or Schedule E? My S-Corp K1 information is showing correctly on Schedule E but I am not getting any QBI. Very confusing..
June 4, 2019
5:05 PM
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Business & farm
In order for SCorp K-1 income to be included in QBI calculation, there must be amounts in Box 17 with codes in the V to Z range. See the Box 17 code explanations attached below. In addition, you must get all the way through the K-1 entry for the QBI deduction to calculate.
The QBI is a personal income tax deduction and will be reported on line 9 of the 1040 form.
Here is more information:
https://ttlc.intuit.com/replies/7019998
June 4, 2019
5:05 PM