You have QBI, section 199A dividends, or PTP income (defined below), andī. Use Form 8995, Qualified Business Income Deduction Simplified Computation, if all of the following apply.Ī. Use one of these forms to figure your QBI deduction.ġ. The partnership will provide the information you need to figure your deduction. Generally, you may be allowed a deduction of up to 20% of your net qualified business income (QBI) plus 20% of your qualified REIT dividends, also known as section 199A dividends, and qualified PTP income from your partnership. Depending on your circumstances, it may not be necessary to include the details.įrom 2019 Form 1065 Schedule K-1 Instructions page 18:Ĭodes Z. I suggest revisiting this section and answering the questions differently to capture the missing detail based on your supporting schedules included with your Schedule K-1.įor additional details about Code Z, see the resources below.
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