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Where do I enter UBIA of qualified Property on the Sch P/S K-1 Worksheet? - Where do I enter UBIA of qualified Property on the Sch P/S K-1 Worksheet?

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Enter the amount for UBIA (unadjusted basis in qualified property immediately after acquisition) on the line labeled Section 199A- Unadjusted basis.

Also add form 8995-A to the return. This amount will flow to form 8995-A page 1, line 1.

 

For additional information - Please also review the instructions for form 8995 and Form 8995-A .

Note. You must combine the QBI, W-2 wages, and UBIA of qualified property for all aggregated trades or businesses, for purposes of applying the W-2 wages and UBIA of qualified property limits. However, these limits wont apply until your income, before the QBI deduction, is more than the threshold. If your income is more than the threshold, you must use Form 8995-A.

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