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Business & farm
QBI is a complicated calculation and if it turns out to be the same amount as the 1120S K-1 line 1 then probably the business is REALLY simple or it's a fantastic coincidence. In any case, Box 17 Code V is the total QBI *Income* of the business, not the 20% deduction amount for individuals. The deduction is computed separately by each shareholder based on their own return data.
‎June 6, 2019
12:19 AM