topic Re: Schedule K1 (Form 1041) Box 14 Code i in Get your taxes done using TurboTax

Schedule K1 (Form 1041) Box 14 Code i

fastboat18 — Tue, 13 Aug 2019 10:19:02 GMT

As a trust beneficiary I received a K-1 (farm trust). In box 14 Code i the STM states "includes income from land rental. Per IRS Regs this only qualifies for the Section 199A deduction if it is self-rental OR rises to the level of a trade of business."

Under Qualified Business Income $9575 is shown.

Total Real Estate Investment Trust (REIT) Dividends under Unadjusted Basis Qualified Property $345 is shown.

Where on my tax forms do I place these dollar amounts?

Re: Schedule K1 (Form 1041) Box 14 Code i

soultax09 — Tue, 13 Aug 2019 16:50:53 GMT

TT has codes for those two on the line 14 page....the program should take care of that....whoever did the trust return figured out it was qbi.

Re: Schedule K1 (Form 1041) Box 14 Code i

fastboat18 — Wed, 14 Aug 2019 00:15:42 GMT

Im using the Turbo Tax Premier. Do I just "click" on Line 14? If so do the needed codes appear?