How should I enter 199a info for line 14-I for a k-1 mineral trust with royalties? It is asking if REIT dividends (no) and if another business is involved (no sched A)?

Forum|Forum|1 year ago
April 4, 2025
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The income on the K-1 is listed as 14E, investment income, and statement I is broken down into royalties for each state (listed as ordinary business income/qualified non-service income) with directly apportioned deductions subtracted

Best answer by PatriciaV

In general, income from a US trade or business that is included in your taxable income qualifies for Section 199A (QBI). Since you didn't receive Statement A, you may need to combine the items for Code I in order to complete the entries for this K-1.

According to the instructions for Form 8995, you can use the QBI Flow Chart to determine if an item of income, gain, deduction, or loss is includible in QBI.

PatriciaVAnswer

Employee

According to the instructions for Form 8995, you can use the QBI Flow Chart to determine if an item of income, gain, deduction, or loss is includible in QBI.

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