I was just testing on some of my sample returns and QBI is calculating on income from K-1's but its a bit different than the Schedule C. On the K-1 S Corp the new 199A codes (Line 17 code V is the main one) need to have a value before the Qualified Business Income Deduction Info (Section D) is filled out. For a K-1 Partnership, it would be line 20 code Z that would need to have a value for QBI to calculate on the Qualified Business Income Deduction Info (Section D).

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When will QBI populate on the 1040????? its been promised soon for a month. it works from sch c but not from sch e like scorp or partnership

Forum|Forum|6 years ago
December 7, 2019
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Best answer by IntuitCharlene

I was just testing on some of my sample returns and QBI is calculating on income from K-1's but its a bit different than the Schedule C.

On the K-1 S Corp the new 199A codes (Line 17 code V is the main one) need to have a value before the Qualified Business Income Deduction Info (Section D) is filled out.
For a K-1 Partnership, it would be line 20 code Z that would need to have a value for QBI to calculate on the Qualified Business Income Deduction Info (Section D).

IntuitCharlene

Answer

Community Manager

I was just testing on some of my sample returns and QBI is calculating on income from K-1's but its a bit different than the Schedule C.

On the K-1 S Corp the new 199A codes (Line 17 code V is the main one) need to have a value before the Qualified Business Income Deduction Info (Section D) is filled out.
For a K-1 Partnership, it would be line 20 code Z that would need to have a value for QBI to calculate on the Qualified Business Income Deduction Info (Section D).

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Accept as solution" and then just changing the Accept as solution to Mark as Best Answer, mine gets cutoff, so it is too long. I changed mine to the following and it fits. -->**Say "Thanks" by clicking the thumb icon in a post**Click "Mark as Best Answer " to mark the post that answers your question.

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Marc-TaxMan

Level 7

Wait. those lines need codes BEFORE entering other QBI data?

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