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April 13, 2024
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K-1 box 20 code z indicates statement, but after providing the additional information for QBI, turbotax indicates there is no QBI income. That is an error

  • April 13, 2024
  • 1 reply
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    Best answer by Mike9241

    after entering a 20Z amount further on there should be a page asking about section 199A income

    answer the questions on the following pages. a loss generates no QBI deduction. 

    there can also be QBI limitations due to your income and type of activity

    the numbers should carry to form 8995 or 8995a where the QBI deduction, if any, is calculated. 

     

    1 reply

    Mike9241Answer
    April 13, 2024

    after entering a 20Z amount further on there should be a page asking about section 199A income

    answer the questions on the following pages. a loss generates no QBI deduction. 

    there can also be QBI limitations due to your income and type of activity

    the numbers should carry to form 8995 or 8995a where the QBI deduction, if any, is calculated.