Report qualified business income to beneficiaries

When a share of distributable income allocates to a beneficiary, UltraTax CS reports this information to each beneficiary on the Beneficiary Qualified Business Income Deduction Information worksheet. This worksheet lists a portion of the dividends identified as Section 199A on the
Income and Broker
screen. A line generates on the worksheet for each activity (located on the Income, Broker, K1QBI, or K1TQBI screen) with a
1
in the
Qualifies as trade or business for Section 199A
field. You can only use a share of distributable net income to allocate this information to the beneficiary. It doesn't matter how the actual income is allocated to the beneficiary.
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