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LGW3
Returning Member

Misc Non-Service QBI on k-1 footnote from trust 1041 with multiple entities Box 14 Code 1

I have a K-1 from a trust- that has code I in Box 14.

There are 14 "activities" listed as details for the Misc Non-Service Qualified Business Income, Section 199A, Box 14, Code I

When I am trying to enter this on Turbo Tax- I am only able to enter one of the activities.  I am not sure how I enter all the details from this footnote/statement for the QBI information for the "beneficiary share of w-2 wages" and "beneficiary share of unadjusted basis" or the "Beneficiary share of Rental income".  There are 14 activities with all 3 of those categories (w-2/basis and rental income) and I only have success entering one- and I don't know how to properly enter all the data in turbo tax. It is 5 pages of information- and I can't see to figure out how to link it all to the one k-1 that was issued.

 

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1 Reply
PatriciaV
Expert Alumni

Misc Non-Service QBI on k-1 footnote from trust 1041 with multiple entities Box 14 Code 1

You have two options: 

  • enter one Schedule K-1 in TurboTax for each of the activities listed for QBI or 
  • add the QBI entries together and enter one amount for wages, rental income, and UBIA. 

If the trust income is not your main source of income, the second option may be the best.

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