ClintCPA
Level 3
03-12-2021
08:30 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
TaxGuyBill: Thank you for your help. Just curious as to why you may feel that the QBI worksheet at the bottom of the K-1 on the 1040 may not need to be adjusted for basis limitations. Would the limited losses not impact the QBI carryovers since the K-1 line 1 amount is part of the QBI calculation (for line 17V of the K-1)?