Article Date:
April 2019


Word Count:
600

 

 

Q&A: What Can I Do If My K-1 Omits 199A Information?


Question

 

I’m a limited partner in a restaurant business. I got my Schedule K-1 from the LLC, and it has no 20 percent pass-through deduction information on it.

 

My share of the pass-through business income is $35,000. Can I assume this is the qualified business income (QBI) amount? To calculate the deduction, don’t I also need the wage and property information? ... Log in to view full article.

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