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Business & farm
No, you only enter the line items that TurboTax prompts. "Self-Employment earnings" is not business income to the business and is not considered in the QBI deduction. You only need to report the Ordinary Income (loss), W-2 Wages, and Unadjusted Basis of Assets (UBIA).
When you entered the K-1 box information, the self-employment earnings were reported correctly in box 14.
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‎February 18, 2023
11:51 AM