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Business & farm
Try these steps.
- At the screen Enter Box 20 info, you likely need to select code Z Section 199A information.
- Enter the Box 1 value. Click Continue.
- 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 (if you have any to report),
- UBI of qualified property for this business.
Enter these values for the qualified business income deduction to be calculated.
Since box 1 is negative, there will be no QBI deduction unless there is QBI somewhere else in the tax return.
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March 28, 2021
7:41 AM