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 the
    Section 199A W-2 wages
    field on the K1QBI or K1T-3 screen.
  • Amounts entered in the
    UBIA of qualified property
    field on the K1QBI or K1T-3 screen.
All section 199A amounts are adjusted for basis, at-risk, and passive loss limitations, if necessary.
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