Partnership K-1 box 20 needs to be completed for the software to invoke 199A qualified business income deduction calculation.
- At the screen Enter Box 20 info, you likely need to select code Z Section 199A information. I have seen comments that the Amount does not have to be entered but I enter the Box 1 number if a value is not provided.
- At the screen We need some information about your 199A income, you will likely need the following information:
- Ordinary business income (loss) from this business,
- W-2 wages for this business, and
- UBI of qualified property for this business.
Enter these values for the qualified business income deduction to be calculated.
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