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How do I claim the Qualified Business Income Deduction as a Schedule K-1 Recipient?

SOLVEDby TurboTax2560Updated December 12, 2023

The Qualified Business Income (QBI) deduction allows non-corporate taxpayers to deduct up to 20% of their qualified business income. Business owners and beneficiaries with income from a partnership, S corporation, or trust reported on Schedule K-1 are generally eligible for the QBI deduction. 

To claim this deduction, you need to enter the information from your specific K-1 form(s) into TurboTax. Your QBI deduction will then be automatically calculated for you.

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