Does turbotax deduct K-1 box 14 code ZZ corpus not subject to tax from taxable income?

Corpus would not be part of the tax return, just an entry on your K1. Before you file you can print your tax return to review the details. You can also choose to preview your tax return and steps are provided below. Form 1040, Schedules 1,2,3 will show all income and deductions.

 

You have access to all forms when you choose to print your return in TurboTax Online/Mobile.  However you are required to pay before printing, but do not have to file until you are ready.

• Can I print a copy of my return in TurboTax Online before filing?

If you are using TurboTax Desktop you can switch to Forms and review all forms and worksheets.

 

From the left rail menu in TurboTax Online, select Tax Tools (You may have to scroll down on the left rail menu.)

1. Select Tax Tools
2. On the drop-down select Tools
3. On the pop-up menu titled “Tools Center”, select View Tax Summary 
4. On the left sidebar, select Preview my 1040 

For TurboTax Desktop, change to 'Forms' and review the forms