ThomasM125
Expert Alumni

Business & farm

You designate the property as QBI property on your partnership return by checking the box on the 199A Worksheet by Activity worksheet where it says Is this activity a qualified trade/business? 

 

That will create a code "Z" on line 20 of you K-1 schedule. There will be a statement attached to your K-1 schedule that you will use when you enter your K-1 on your personal tax return to get credit for the QBI.

 

 

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