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NSO
New Member

QBI

My QBI information is not transferring from my K-1s to my 1040. Do you know what may be causing this?

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2 Replies
Anonymous
Not applicable

QBI

besides box 17 (S-Corp) or Line 20 (partnership), there is a section below in the worksheet that must be completed. 

DavidS127
Expert Alumni

QBI

If your QBI deduction isn't showing up on line 10 of your Form 1040, verify that you completed these steps in TurboTax Online (or Download/CD Step-by-Step):

 

Check to make sure you entered your Section 199A amounts from the Statement or STMT that came with your K-1 on the "We need some information about your 199A income or loss" and (if applicable) "Let's check for some uncommon adjustments" screens.

 

For a partnership Form 1065 Schedule K-1, the Section 199A Statement/STMT entry starts with entering the code Z for box 20.

 

For an S-corp Form 1120S Schedule K-1,the Section 199A Statement/STMT entry starts with entering the code V for box 17.

 

Form a estate or trust Form 1041 Schedule K-1, the Section 199A Statement/STMT entry starts with entering the code I (India) for box 14.

 

Enter the code Z or V or I when you enter the K-1 box 20 or 17 or 14 screen, but you don't need to enter an amount.  Having an amount there doesn't "hurt anything" but anything entered there doesn't get used.

 

Continue on, and after a few more screens you'll find the "We need some information about your 199A income or loss" and "Let's check for some uncommon adjustments" screens.  When you check the box next to a category, a place will open up to enter your amounts.  These screens (if applicable to the amount(s) on your statement) must be completed in order for your K-1 QBI information to be correctly input into TurboTax. 

 

To get back to the K-1 summary screen and find the Schedule K-1 to edit, click the "magnifying glass Search" icon on the top row, enter "k-1" in the search window and press return or enter, and then click on the "Jump to k-1" link to find the K-1 you need to edit.

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