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Business & farm
Thank you for pointing me to the form instructions. It turns out that those values on the parent K-1 relate to income that is not QBI. Presumably that is why TTAX lists zeroes but still has the worksheet for that parent level. Sure would like TTAX to have one of those pop-up screens that says something along the lines of "looks like your income from X is not QBI because X is a consulting entity, so we've only carried over the QBI from the investment in Y (that is held by X) onto your 1040." Oh well. Onward. And thank you!
March 19, 2020
8:17 AM