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Business & farm
If you are in Forms Mode, on the K-1 Worksheet, scroll down to Sections D1 and D2 - Qualified Business Income Deduction Info.
- Enter the income in Section D1.
- In Section D2, mark the Yes box and enter the information below from the K-1 Statement.
It may be simpler for you to do this in the Step-by-Step interview rather than in Forms Mode:
- After entering the information for Box 20, after a few screens you will see We see you have Section 199A income.
- Mark the first radio button (The income comes from the partnersip that generates the K-1). Click Continue.
- On the next screen, mark the boxes for the type of income the partnership has and enter it in the boxes that appear. [See screenshot, below.]
March 20, 2020
9:42 AM