turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

VBjC0M2G
Returning Member

Trust Beneficiary,K-1, Box 14I entry

I have been entering numbers into TurboTax from my trust beneficiary Schedule K-1 to do my personal taxes. In the Schedule K-1 step-by-step, “We See You Have Section 199A Income,” I am asked if my Section 199A income (from box 14) includes business income from a business held by the trust or estate. How do I know if I have Section 199A income? The 14-I box on my K-1 is starred (14 I*) and says STMT where an amount might normally appear. The statement that came with the K-1 ls titled “Beneficiary Qualified Business Income Deduction Information” and only lists an amount under REIT Dividends. Is this Section 199A income? Do I need to include this amount in the next window of the step-by-step? I received no Section 199A with my 1041 trust tax return.
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

3 Replies

Trust Beneficiary,K-1, Box 14I entry

Check the circle as shown in the screenshot below.

 

1.png

VBjC0M2G
Returning Member

Trust Beneficiary,K-1, Box 14I entry

So would I enter the amount under REIT Dividends in my “Beneficiary Qualified Business Income Deduction Information” in the next window of the step-by-step? Thank you!

Trust Beneficiary,K-1, Box 14I entry

Under REIT Dividends for this Business.

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question