How do I enter Qualified Business Income (QBI) for S corporations?
This is found in Box 17, Code V (Section 199A information) on an S-Corporation Schedule K-1.
Sometimes it will just say STATEMENT or STMT instead. If so, choose the code from the drop down menu without entering an amount, then enter the QBI information on a following screen.
If you have this on your K-1, it means you may qualify for the QBI Deduction.
The statement should have all of the information you need to answer the questions about your QBI. If your K-1 doesn't have an attached statement and you feel it should or if your statement doesn't have all the information, you should reach out to whomever prepared your K-1.
Sometimes it will just say STATEMENT or STMT instead. If so, choose the code from the drop down menu without entering an amount, then enter the QBI information on a following screen.
If you have this on your K-1, it means you may qualify for the QBI Deduction.
The statement should have all of the information you need to answer the questions about your QBI. If your K-1 doesn't have an attached statement and you feel it should or if your statement doesn't have all the information, you should reach out to whomever prepared your K-1.
