Just completing a Form 1065 for a service business with two partners and net income of about $100K with a $5K Section 179 deduction for furniture and fixtures which appears on line 12 of K-1.
Should line 20 Code Z of K-1 show QBI which reflects 179 deduction or QBI before 179 deduction?
Should line 20 Code Z of K-1 show QBI which reflects 179 deduction or QBI before 179 deduction?