Qualified Business Income Deduction not Showing up on K-1

[nathansnewman]

The software asked me information about the QBI but when it prints the K-1 form, it does not include any QBI deduction.

What's going wrong?  Can I edit the K-1 to add the QBI myself?

Nathan Newman

[Vanessa A]

On the K-1 you will only see code z in Box 20.  

Your QBI deduction, will happen on your personal return instead of your business return.   You will see the deduction on line 13 of your 1040. 

[Mike9241]

the qbi deduction does not show on the k-1. it's only computed at the personal level after entering the QBI info on the k-1 into Turbotax for your 1040 . 

up to 3 items may be reported (box 17 S-corp, box 20 - - 1065)

they are

1) your share of QBI income/loss (always)

2) your share of wages

3)your share of the unadjusted  basis immediately after acquisition of qualified property (UBIA)  

note that Turbotax does don't use the boxes 17/20 there are special lines for entering the data

in forms mode section d1 of the k-1 the actual computation is on one of the 8995 forms.   don't override unless you want to file by mail.