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Anonymous
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Statement A - QBI Pass-through Entity Reporting on K-1

Statement A - QBI Pass-through Entity Reporting on K-1 has two columns under "QBI or qualified PTP items subject to partner-specific determinations."

 

One is "1065, Line 22) and one is "Sch F, Copy 1"

 

How do I enter these two columns in TurboTax, which only has one box?

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3 Replies
Anonymous
Not applicable

Statement A - QBI Pass-through Entity Reporting on K-1

While we're at it, there are also two numbers in Box 14 (Self-employment earnings (loss) ) on my K-1. Which or both of these do I enter in TurboTax Premier?

JamesG1
Expert Alumni

Statement A - QBI Pass-through Entity Reporting on K-1

S corporations must file an annual tax return on Form 1120S. The S corporation provides Schedule K-1s that reports each shareholder’s share of income, losses, deductions and credits. The shareholders use the information on the K-1 to report the same thing on their separate tax returns.

 

In TurboTax Online, follow these directions. 

  • Down the left side of the screen, click on Federal.
  • Across the top of the screen, click on Wages & Income.
  • Under Your income, scroll down to Schedule K-1 and click Edit/Add to the right.
  • At the screen Tell us about your Schedule K-1, you tell the software which Schedule K-1 you received.  I am assuming that you are entering a K-1 from an S corporation (Form 1120S).
  • For several screens, you will be entering data right off the K-1 form.
  • At the screen Check Boxes That Have An Amount, click on Box 14 Info.
  • At the screen Enter Box 14 Info, enter the information from the K-1.
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Statement A - QBI Pass-through Entity Reporting on K-1

How do I report QBI pass-through if the pass through came from rental property of 1 trust passed through another trust.  All I see are instructions for if you are a S Corp

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