JamesG1
Expert Alumni

Retirement tax questions

If  the preparer of your K-1 provided section 199A information, you would be able to claim the Qualified Business Income Deduction. In many cases, (but not all) you report:

 

  • Ordinary business income,
  • W-2 wages for the business, and 
  • UBIA of qualified property for the business.

At the screen Enter Box 20 info

 

  • You select Code Z Section 199A information.
  • Click Continue.
  • At the screen We need some information about your 199A income, you would enter the information that the preparer of your K-1 provided.
  • Enter these values for the qualified business income deduction to be calculated.

@JRD82

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