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snester24
Level 1

Qualified Business Income Deduction

A trust for  which I am the trustee received a form 1065 from a partnership, recognizing rental real estate  income for the trust. I would like to recognize the QBI deduction on my personal return without recognizing the rental real estate income (it has already  been recognized on the trust return). Can someone  walk me through how to do this in TurboTax?

5 Replies
MaryK1101
Employee Tax Expert

Qualified Business Income Deduction

When you are completing the section for the K-1, you will have to have the Box 14 Code I for the 199A Income.  You will see the page below:

 

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snester24
Level 1

Qualified Business Income Deduction

Hi Mary,

 

I went through the following  steps in entering the K-1 information and did not see the prompt you mentioned  below. Would  you be willing to send me the prompts that lead to the one you mention below?

 

 

 

 
 

 

 

MaryK1101
Employee Tax Expert

Qualified Business Income Deduction

Here are the screens starting with the K-1 Box 14 entry:

 

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snester24
Level 1

Qualified Business Income Deduction

For the Enter Box 14 info screen, I do not see "l. Section 199A information."

 

Instead, I see the following as codes  I can enter:

A. Net earnings (Loss) from Self-Employment

B. Gross farming  or  fishing income

C. Gross non-farm income

 

Do you know why I don't see what you see?

MaryK1101
Employee Tax Expert

Qualified Business Income Deduction

Because we cannot see your tax return, you may want to call in so a live assistant can help.  See What is the TurboTax phone number?

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