DanielV01
Expert Alumni

Business & farm

On TurboTax, you will enter the K-1 information into the Schedule E screen.  (To access, type "Schedule E"  in the Search box and click on the Jump to Schedule E link).  You will proceed to enter the K-1 information as you see it on your K-1.  The most important information for the QBI calculation is found in box 20.  You must enter the codes Z, AA, AB, and AC (or as many of these codes as you have), or QBI will not calculate.  If your K-1 does not contain these codes, you will need to have the K-1s corrected to include this information.

After you have entered all of the information, you will need to answer a couple of questions regarding the nature of the income and your expected income.  If you qualify, QBI calculates after that.

One caveat:  when using TurboTax Online, these calculations are not as visible as when you use TurboTax Desktop.  While not required, you may wish to purchase Desktop software and finish the return there.  The Forms Mode available in TurboTax Desktop is advantageous to seeing the QBI calculation.  If you wish to go this route, this FAQ gives information on how to do so:  https://ttlc.intuit.com/replies/3302260

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