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Business & farm
I am having the same issue as the people above. The K-1 I am trying to enter into my personal taxes using turbotax home & business, was generated using my Turbo Tax S-Corp software for my S-corp business. The K-1 shows a V* in box 17 and next to it it says STMT in the other information box. When I look at the Statement A-QBI Pass-through Entity Reporting form, it shows my Ordinary business income in one field and it shows W-2 wages in another field. It doesn't tell me which of these numbers should be used for the QBI number. I assume the smaller number is the one that should be used, but shouldn't Turbo Tax S-Corp software be placing the correct QBI number on my K-1?
‎February 28, 2020
2:25 PM