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Investors & landlords
Statement A is the IRS term for the additional statement that is required to be reported with a K-1 (regardless of the entity type) if the entity is reporting Section 199A Qualified Business Income that may allow you to take the Qualified Business Income Deduction on your personal return. The format allows you to properly identify the 199A items for reporting which is the issue you're having. You may want to ask your partnerships to provide you with the correct statement.
Without having the statement to correctly identify your items, you could cause delays in the processing of your tax returns.
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March 14, 2022
12:34 PM