As a trust beneficiary I received a K-1 (farm trust). In box 14 Code i the STM states "includes income from land rental. Per IRS Regs this only qualifies for the Section 199A deduction if it is self-rental OR rises to the level of a trade of business."
Under Qualified Business Income $9575 is shown.
Total Real Estate Investment Trust (REIT) Dividends under Unadjusted Basis Qualified Property $345 is shown.
Where on my tax forms do I place these dollar amounts?
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TT has codes for those two on the line 14 page....the program should take care of that....whoever did the trust return figured out it was qbi.
Im using the Turbo Tax Premier. Do I just "click" on Line 14? If so do the needed codes appear?
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