Please provide a brief overview of how the 20% pass thru work for an S corp? I file form 1020 and after paying myself with a W2, I have remaining profit in K1. Where do I get the 20% tax benefit? I don't see it in 1020 and K1. Do I see it in 1040? How do I claim it? The 20% tax benefit is 20% off my K1 or my income reported in 1020?
