topic QB income deduction does not reflect on my return in After you file https://ttlc.intuit.com/community/after-you-file/discussion/qb-income-deduction-does-not-reflect-on-my-return/01/2180059#M555319 <P>Why my QB income deduction does not reflect on my return (even I checked QB income box)?</P> Wed, 07 Apr 2021 21:07:27 GMT hm783877hm 2021-04-07T21:07:27Z QB income deduction does not reflect on my return https://ttlc.intuit.com/community/after-you-file/discussion/qb-income-deduction-does-not-reflect-on-my-return/01/2180059#M555319 <P>Why my QB income deduction does not reflect on my return (even I checked QB income box)?</P> Wed, 07 Apr 2021 21:07:27 GMT https://ttlc.intuit.com/community/after-you-file/discussion/qb-income-deduction-does-not-reflect-on-my-return/01/2180059#M555319 hm783877hm 2021-04-07T21:07:27Z Re: QB income deduction does not reflect on my return https://ttlc.intuit.com/community/after-you-file/discussion/re-qb-income-deduction-does-not-reflect-on-my-return/01/2182917#M556011 <P>What does it say when you get to that section?</P> Thu, 08 Apr 2021 18:56:58 GMT https://ttlc.intuit.com/community/after-you-file/discussion/re-qb-income-deduction-does-not-reflect-on-my-return/01/2182917#M556011 AkinaLO 2021-04-08T18:56:58Z Re: QB income deduction does not reflect on my return https://ttlc.intuit.com/community/after-you-file/discussion/re-qb-income-deduction-does-not-reflect-on-my-return/01/2182935#M556019 <P>Nothing, just ask me if qualify QB income, if so check the box. Thank you.</P> Thu, 08 Apr 2021 18:59:56 GMT https://ttlc.intuit.com/community/after-you-file/discussion/re-qb-income-deduction-does-not-reflect-on-my-return/01/2182935#M556019 hm783877hm 2021-04-08T18:59:56Z Re: QB income deduction does not reflect on my return https://ttlc.intuit.com/community/after-you-file/discussion/re-qb-income-deduction-does-not-reflect-on-my-return/01/2194685#M558491 <P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">What is the source of your Qualified Business Income?</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">The Qualified Business Income Deduction can be generated from one of two components.</SPAN></SPAN></P> <UL> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">The QBI component can result from a sole proprietorship, partnership, S corporation, trust or estate.&nbsp;&nbsp;The first component would likely be reported on Schedule C, Schedule E, Schedule F or a K-1.</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">The REIT / PTP component can be generated from qualified real estate investment trust (REIT) dividends or qualified publically traded partnership (PTP) income.&nbsp;&nbsp;The second component could be reported on 1099-DIV or a K-1.</SPAN></SPAN></LI> </UL> <P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">Qualified business income reported on a K-1 will require:</SPAN></SPAN></P> <UL> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">Box 17 code V for 1120S, or</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">Box 20 code Z for 1065.</SPAN></SPAN></LI> </UL> <P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">See also this <A href="https://ttlc.intuit.com/community/business-structures/help/how-do-i-claim-the-qualified-business-income-deduction-as-a-schedule-k-1-recipient/00/2171961" target="_blank">TurboTax Help</A></SPAN></SPAN></P> Mon, 12 Apr 2021 16:38:42 GMT https://ttlc.intuit.com/community/after-you-file/discussion/re-qb-income-deduction-does-not-reflect-on-my-return/01/2194685#M558491 JamesG1 2021-04-12T16:38:42Z
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topic QB income deduction does not reflect on my return in After you file
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<P>Why my QB income deduction does not reflect on my return (even I checked QB income box)?</P>
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<P>Why my QB income deduction does not reflect on my return (even I checked QB income box)?</P>
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Re: QB income deduction does not reflect on my return
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<P>What does it say when you get to that section?</P>
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<dc:date>2021-04-08T18:56:58Z</dc:date>
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Re: QB income deduction does not reflect on my return
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<P>Nothing, just ask me if qualify QB income, if so check the box. Thank you.</P>
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<pubDate>Thu, 08 Apr 2021 18:59:56 GMT</pubDate>
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<dc:date>2021-04-08T18:59:56Z</dc:date>
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Re: QB income deduction does not reflect on my return
</title>
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https://ttlc.intuit.com/community/after-you-file/discussion/re-qb-income-deduction-does-not-reflect-on-my-return/01/2194685#M558491
</link>
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<P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">What is the source of your Qualified Business Income?</SPAN></SPAN></P> <P>&nbsp;</P> <P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">The Qualified Business Income Deduction can be generated from one of two components.</SPAN></SPAN></P> <UL> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">The QBI component can result from a sole proprietorship, partnership, S corporation, trust or estate.&nbsp;&nbsp;The first component would likely be reported on Schedule C, Schedule E, Schedule F or a K-1.</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">The REIT / PTP component can be generated from qualified real estate investment trust (REIT) dividends or qualified publically traded partnership (PTP) income.&nbsp;&nbsp;The second component could be reported on 1099-DIV or a K-1.</SPAN></SPAN></LI> </UL> <P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">Qualified business income reported on a K-1 will require:</SPAN></SPAN></P> <UL> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">Box 17 code V for 1120S, or</SPAN></SPAN></LI> <LI><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">Box 20 code Z for 1065.</SPAN></SPAN></LI> </UL> <P><SPAN style="font-family:Arial,Helvetica,sans-serif"><SPAN style="font-size:14px">See also this <A href="https://ttlc.intuit.com/community/business-structures/help/how-do-i-claim-the-qualified-business-income-deduction-as-a-schedule-k-1-recipient/00/2171961" target="_blank">TurboTax Help</A></SPAN></SPAN></P>
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