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Level 1
December 7, 2019
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QBI for a partnership should be Net Income per books, correct? (After 179 expense) same as an 1120?

  • December 7, 2019
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Best answer by Ernie

The QBI that is reported on the K-1 of the income without regard to the section 179.  That calculation is done at the individual level tax return.

1 reply

Ernie
ErnieAnswer
Level 7
December 7, 2019

The QBI that is reported on the K-1 of the income without regard to the section 179.  That calculation is done at the individual level tax return.