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Level 1

Solved

How to get K-1 income to transfer to QBI worksheet?

Forum|Forum|7 years ago
June 1, 2019
8 replies
61 views

No text available

TurboTax Premier Windows

Best answer by JulieCo

K-1 amounts in Box 17 with codes in the range of V to Z (for 1120S form) or Box 20 with codes in the rage of Z to AD (for 1065 form) are what are used to calculate the QBI deduction (Section 199A deduction). If you do not have amounts in the above box with the above code ranges, then the QBI deduction will not calculate for the K-1 income. Also, you need to completely enter the K-1 form before the QBI deduction will trigger, meaning you need to get through the entire section in TurboTax.

Level 11

K-1 amounts in Box 17 with codes in the range of V to Z (for 1120S form) or Box 20 with codes in the rage of Z to AD (for 1065 form) are what are used to calculate the QBI deduction (Section 199A deduction). If you do not have amounts in the above box with the above code ranges, then the QBI deduction will not calculate for the K-1 income. Also, you need to completely enter the K-1 form before the QBI deduction will trigger, meaning you need to get through the entire section in TurboTax.

Level 2

I did enter my Z and AB data in box 20 on my 1065. but it did not create the "QBI link" required to finish the return. Is TT working on this? March/02/2018 is a bit late not to have the program finished.