Skip to main content
April 12, 2023
Question

Can I easily process the 20% standard deduction with the schedule K as part of my personal tax return with TT? My accountant usually did this but I want to save with TT.

  • April 12, 2023
  • 2 replies
  • 0 views
No text available

2 replies

April 12, 2023

Yes, when you enter your K-1, you will then go through a few more questions asking about your income and then you will be given the QBI deduction if you qualify. 

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Mark as Best Answer"
April 12, 2023

it is not a standard deduction and has no effect on it. it can be less than 20%. form 8995 is used to compute it and the deduction appears on 1040 line 13