Qualified business income deduction limitations for Schedule K-1, Pass-through entity
For taxpayers whose taxable income exceeds the threshold, UltraTax CS uses the following to calculate the qualified business income deduction (QBID) on the Qualified Business Income Component Worksheet:
- W-2 wages on Schedule K-1 entered in theSection 199A W-2 wagesfield on the K1QBI or K1T-3 screen.
- Amounts entered in theUBIA of qualified propertyfield on the K1QBI or K1T-3 screen.
All section 199A amounts are adjusted for basis, at-risk, and passive loss limitations, if necessary.
