Trust K-1 code 14I - Sec 199A dividends

3 replies
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Individual received a K-1 from a trust with a code 14 I (Sec 199A dividends) amount. The trust only has investment income and is not a qualified trade or business. The 199A dividends are not being included in the QBI deduction calculation. Is it necessary to show the trust as a qualified trade or business? I cannot get the QBI deduction correct no matter how I input the information.

ProSeries Basic

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P

pcrubingercpa

Level 3

Just noticed the same thing. The 199A dividends from a Trust return are not functioning through the program. I'm going to set up a separate line item on Schedule B and enter the 199A dividends on the supplemental worksheet and see if that works.

P

pcrubingercpa

Level 3

Here's the fix...you in addition to entering the Sec 199a dividend amount, you have to enter the same as Ordinary Business Income in the worksheet below. Then, I believe the QBI deduction functions.

K

kasprowitz

Level 2

Followed those instructions regarding entering Sec 199a dividends but it's now asking for an EIN # after I include the dividends as ordinary income

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