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Business & farm
You need to ensure you have reported the details of your Section 199A loss on the screen after your K-1 entry. In TurboTax Online you can do this by following these steps:
- Sign in and open your return by selecting Pick up where you left off under a section.
- Search for K-1 and select the Jump to link at the top of the search results.
- This will take you to the Schedules K-1 or Q screen.
- Answer Yes and follow the prompts.
- Verify or answer the questions (leave box 20 amount blank) and Continue until you get to the W need some information about your 199A income screen.
- Check the box(es) that match the detail information you received with your K-1 and enter the associated amounts. List negative numbers as negatives in Turbo Tax.
- Continue through the rest of the questions.
Repeat this process for the second K-1 if it also has QBI details.
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‎April 16, 2022
9:49 AM