Nine years as Tax Expert with TurboTax; Certified Public Accountant (Texas, retired) since 1998; 20+ years of tax accounting, specializing in small businesses and partnerships
During the state taxes interview, look for a page asking about income that South Carolina handles differently. Under Business income, you should see a K-1 topic...
You should have received Statement A (QBI Pass-Through Entity Reporting) with Schedule K-1 that provides specific information for Line 20 Code Z.
When entering...
How were the investment expenses reported on Schedule K-1? The instructions for that box and code should allow you to report these expenses on Schedule E page 2...
If Schedule K-1 is the only income reported from passive investments on Schedule E, you may need to return to the K-1 topic and confirm that you included a minu...