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Level 2
October 26, 2023
Question

Qualified Business Income Deduction

  • October 26, 2023
  • 1 reply
  • 0 views

I believe that I should qualify for the QBI deduction but turbo tax is showing my deduction as "0".  What info needs to be on my K-1 that would allow me to qualify?  I'm afraid that my K-1 may have been inaccurately prepared (possibly using the wrong boxes).

Thanks.

    1 reply

    Level 15
    October 26, 2023

    Which type of K-1? 

     

    There should be a 199A code if the K-1 was properly prepared and it was warranted.

     

    @Mike9241 

    Level 2
    October 26, 2023

    Where do I look to see if there's a 199A code?

    Level 15
    October 26, 2023

    Line 20 on a 1065 K-1