Code A - Tax-Exempt Interest
This amount will automatically pull to Form 1040, line 2b.
Code F - Gross Farming and Fishing Income = Partial entry required
This amount is automatically carried as gross farming and fishing income from a Form K-1 to Schedule E (Form 1040), Supplemental Income and Loss, line 42. You will need to enter the appropriate amount on Line 17 Part II of Schedule SE.
Code H - Net Investment Income or Deduction Adjustment - Unsupported
Code I - Qualified Business Income Deduction
Amounts reported in Box 14, Code I, represent a taxpayer's portion of the Section 199A items that have been allocated to this beneficiary/taxpayer by the estate or trust. The taxpayer should receive a breakdown of Section 199A items necessary to calculate any qualified business income deduction.
- W-2 wages- apportioned pro rata share of the trust’s or estate’s W-2 wages allocable to the QBI of each qualified trade or business
- Unadjusted Basis- apportioned pro rata share of the trust’s or estate’s unadjusted basis immediately after acquisition (UBIA) of qualified property of each qualified trade or business
- REIT Dividends- apportioned pro rata share of the trust’s or estate’s net section 199A dividends
- PTP Income- apportioned pro rata share of items from the trust’s or estate’s trade(s) or business(es)