Solved: Does income from a PTP that owns and rents self storage units (that was reported as net rental real estate income in box 2 of the K-1) constitute QBI for Section 199A?
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dengold4
New Member

Does income from a PTP that owns and rents self storage units (that was reported as net rental real estate income in box 2 of the K-1) constitute QBI for Section 199A?

 
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Accepted Solutions
DawnC0
Intuit Alumni

Does income from a PTP that owns and rents self storage units (that was reported as net rental real estate income in box 2 of the K-1) constitute QBI for Section 199A?

It can.  There has to be information from the K-1 in box 20 that reflects numbers needed to calculate the deduction.  The QBI related codes are Z-AD.  If those codes are not on your K-1 in box 20, the deduction will not calculate in TurboTax.  

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1 Reply
DawnC0
Intuit Alumni

Does income from a PTP that owns and rents self storage units (that was reported as net rental real estate income in box 2 of the K-1) constitute QBI for Section 199A?

It can.  There has to be information from the K-1 in box 20 that reflects numbers needed to calculate the deduction.  The QBI related codes are Z-AD.  If those codes are not on your K-1 in box 20, the deduction will not calculate in TurboTax.  

View solution in original post

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