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February 4, 2020
Question

small business k-1 box 14 code

  • February 4, 2020
  • 1 reply
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I used Turbo Tax to do my small business return. The K-1 shows a code "A" is box 14. Should this not be a code "Z"? It's not investment income it's ordinary income to my business passed through to me as self-employed. Shouldn't I be eligible for a small business tax deduction? 

1 reply

February 4, 2020

On a Schedule K-1 form 1065, box 14 code A (and not Z) shows net earnings from self-employment. And you are eligible for a QBI deduction.

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