I use Turbo for Corporation to generate K-1 for my SCorp to be entered in TurboTax Home and Business for my personal income. I pay myself with W2 with the SCorp. The remaining profit is in a K-1. The K-1 has codes A, V and W in box 17. I would like to know why the QBI is not populated to line 9 of form 1040 in TurboTax Home and Business. My 1040 has less than $300K income. It appears the only way I can claim QBI is to take 20% of the amount under code V in K-1 and enter the amount on line 9 of form 1040. Is this valid since I can't figure out a way for the QBI to populate in 1040 by Turbo Tax.I updated TurbTax Home and Business today 3/2/2019 and entered my K-1 into TurboTax today.
The second question I have is how to claim QBI in my Georgia State income tax? Does Georgia allow 20% reduction of the income in K-1? After I manually entered an amount on line 9 of 1040, there is no reduction in Georgia income tax.
