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

Help

RESOURCES

Articles
Business Owner Tools
Tax Professional Tools
Tax Planning Calculators
Tax Saver's Glossary
Helpful IRS Publications

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.

Already a subscriber?

Email Address

Password

Log In Send me my password

FREE TRIAL

You'll be able to read the full article and get instant access to the last few issues of the Tax Reduction Letter

Not yet a subscriber?

with a money-back guarantee

Search Help