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Can not get the program to reduce the eligible income from a 1120s k1 to reflect the 199a reduction

yannim45
Level 1

the program is not reducing the 20% from the eligible income

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abctax55
Level 15

Is there positive taxable income?

Former Chump..oops..AllStar...I used to be a people person, then people ruined it


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3 Replies 3
TaxGuyBill
Level 15
Did you enter the proper QBI information from Box 17 of the K-1?
Have you checked the QBI section near the bottom of the K-1 worksheet?
Does the taxpayer actually qualify for QBI?
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IRonMaN
Level 15
Stupid question but, are you thinking the 199A amount is going to directly reduce the K-1 income rather than go on line 9 of the 1040 or is nothing calculating for line 9?
ACME Taxes, Tatoos, Tires and Tomatoes (I had to get rid of the turtles - they kept running away)
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abctax55
Level 15

Is there positive taxable income?

Former Chump..oops..AllStar...I used to be a people person, then people ruined it


If a post answers your question, click on *Accept as solution* for future searches

View solution in original post

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