Question 32 of 75. Partnerships should report information regarding each trade or business of the partnership and Reduce the ordinary income on page 1. Form 1065 for any non specified businesses for the Qualified Business Income deduction Report on Schedule K-1 (Form 1065), box 20, and provide specific information to the partners of their share of Qualified Business Income items. accounts. Make an adjustment on the partnership's Schedule M-2 for the Qualified Business Income that will be a deduction to the partner's Provide information on the partnership's Schedule K, page 4 of Form 1040 that will reduce ordinary income by 20%. Mark for follow up Question 33 of 75