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RH55
Level 2

Why isn't my K-1 from a Subchapter S corporation not being included in the QBI deduction for 2023? I am under the income limit.

It has always been included in past returns that TurboTax calculated.
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1 Reply
JamesG1
Expert Alumni

Why isn't my K-1 from a Subchapter S corporation not being included in the QBI deduction for 2023? I am under the income limit.

Does you IRS Schedule K-1 (1120-S) include Code V in box 17?  Sometimes the Code V is entered but the detail related to the code is found a separate Statement A.

 

You should also have selected an entry on the screen We see you have Section 199A income.

 

 

 

 

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