Amounts reported on your Schedule K-1 aren’t automatically included in your QBI. To figure if the item of income, gain, deduction, or loss is included in QBI, you must look to how it’s reported on your tax form. Only information that is reported on the K-1 as Qualified Business Income is included in the calculation.
Which entries qualify for QBI on my K-1?
- Information reported in Box 20, Code Z.
- Information reported in Box 17, Code V.
- Qualified Business Income, Section 199A