Form Schedule K-1 #17 Other information. How do I figure this out? V*, V**

George Corporation is an S corporation started on January 1, 2021, with 50 shares owned by Trey Martin and 50 shares owned by Brianna Tabor.

Complete Schedule K-1 for Brianna. Assume there were no cash distributions during the year. To report QBI items in Box 17, use the following codes: V* is qualified business income, V** is allocated W-2 wages, and V*** is qualified property.

Schedule K-1 (Form 1120-S)

2021

Part III

Shareholder's Share of Current Year Income,

Deductions, Credits, and Other Items

Department of the Treasury Internal Revenue Service

For calendar year 2021, or tax

1	Ordinary business income (loss) $110,000	13	Credits
2	Net rental real estate income (loss)
3	Other net rental income (loss)
4	Interest income
5a	Ordinary dividends 20,000
5b	Qualified dividends 20,000	14	Schedule K-3 is attached if checked . . . . .
6	Royalties	15	Alternative minimum tax (AMT) items
7	Net short-term capital gain (loss)
8a	Net long-term capital gain (loss)
8b	Collectibles (28%) gain (loss)
8c	Unrecaptured section 1250 gain
9	Net section 1231 gain (loss)	16	Items affecting shareholder basis
10	Other income (loss)
		17	Other information
11	Section 179 deduction	A	20,000
12	Other deductions	V*	????
		V**	????
		V***	90,000

beginning

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2021

ending

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Shareholder's Share of Income, Deductions, Credits, etc. See separate instructions.

Part I Information About the Corporation

A	Corporation's employer identification number 94-8888888

B	Corporation's name, address, city, state, and ZIP code George Corporation 15620 McMullen Hwy SW, Cumberland, MD 21502

C	IRS Center where corporation filed return Kansas City, MO

D	Corporation's total number of shares
	Beginning of tax year . . . . . . . . . . . .	50
	End of tax year . . . . . . . . . . . . . . . .	50

Part II Information About the Shareholder

E	Shareholder's identifying number 444-11-5555

F	Shareholder's name, address, city, state, and ZIP code Brianna Tabor 12 Bowery Street Frostburg, MD 21532

G

Current year allocation percentage . . .

65 %

H	Shareholder's number of shares
	Beginning of tax year . . . . . . . . . . . .	50
	End of tax year . . . . . . . . . . . . . . . .	50

For Paperwork Reduction Act Notice, see the Instructions for Form 1120-S.

www.irs.gov/Form1120S

Cat. No. 11520D

Schedule K-1 (Form 1120-S) 2021