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Investors & landlords
It depends.
IRS Form K-1 (1065) box 20 Code Z Section 199A Information may have been provided by the preparer of the K-1.
IRS Instructions page 17 states:
The partnership will provide the information you need to figure your deduction. Use one of these forms to figure your QBI deduction.....
If 199A information has been provided, report Code Z in box 20 to generate the qualified business income deduction.
If no 199A information has been provided, do not enter Code Z in box 20.
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‎April 4, 2022
8:27 AM