K-1 box 20 refers to STMT for QBI Pass through Reporting, which has multiple entities & multiple entries per entity. How do I calculate or enter net value into TT?

scottjohnson99 — Mon, 30 Mar 2020 16:33:13 GMT

Re: K-1 box 20 refers to STMT for QBI Pass through Reporting, which has multiple entities & m...

JamesG1 — Mon, 30 Mar 2020 17:18:58 GMT

Partnership K-1 box 20 needs to be completed for the software to invoke 199A qualified business income deduction calculation.

At the screen Enter Box 20 info, you likely need to select code Z Section 199A information. I have seen comments that the Amount does not have to be entered but I enter the Box 1 number if a value is not provided.
At the screen We need some information about your 199A income, you will likely need the following information:
Ordinary business income (loss) from this business,
W-2 wages for this business, and
UBI of qualified property for this business.

Enter these values for the qualified business income deduction to be calculated.