What information from my K-1 do I need to calculate my QBI?

Your K-1 will have an attached Section 199A Statement with the amounts needed to calculate your QBI deduction. The info for your QBI deduction is associated with a certain box and code on your K-1, depending on the type of form you have: 

• Box 20, Code Z - Used for Partnerships (Form 1065)
• Box 17, Code V - Used for S corporations/Shareholders (Form 1120S) 
• Box 14, Code I (as in India) - Used for trusts/Beneficiaries (Form 1041)

Once you enter your K-1 information into TurboTax, the QBI deduction will be automatically calculated for you.