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Business & farm
If the LLC qualifies for QBI, the flow through to the K-1 would also qualify.
Business owners and beneficiaries with income from a partnership, S corporation, or trust reported on Schedule K-1 are generally eligible for the QBI deduction.
TurboTax will automatically make the QBI deduction calculation for you based on your Schedule K-1 entries.
Deduction as a Schedule K-1 Recipient?
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March 21, 2022
7:29 AM