How to file K1 and 199A for Trust Income in Turbo Tax

Forum|Forum|1 year ago
April 7, 2025
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I have additional income in the form of a trust. I received a K1 and a 199A. In Turbo Tax, I entered the information provided on my K1. Only lines 1 (interest income), 7 (net rental real estate income), and 14 have any information. For box 14 I have code E with a value, but then I have code I with no value. It says *K-1 Wks QBI. I did receive a statement A - QBI Pass-through entity reporting form (199A-6). It only has 1 value under ordinary business and rental income(loss). There are no other values on this form. Is this the value I enter into Turbo Tax for code I?

JamesG1

For IRS Schedule K-1 (1041), at the screen Enter Box 14 info, select code I - Section 199A information. A value does not have to be entered.

Then click Continue.

At the screen We need some information about your 199A income, click the box to the left of the item to be entered. An entry box will open. You may be entering:

Ordinary business income (loss) from this business,

Enter these value(s) for the qualified business income deduction to be calculated.

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skaybeeAuthor

Okay under Enter Box 14 info - I followed the first step, entered the Code "I" and left the value blank. When I click continue, it brings me to a page called Passive Loss Carryovers. It says

Enter your passive loss carryovers as negative numbers

Passive loss carryovers from 2023:

Regular Tax ____

Alternative Minimum Tax____

What do I enter from here? It did not bring me to the We need some information about your 199A income screen.