When running error check on my 1120S, I get the following:
Form 1120S p3-5 - 199A Sum Wks (Page 1): UBIA - The total amount is larger than the amount allocated to all Schedule K-1's. Review the K-1 Statement to ensure that the combined K-1 amounts for this item are increased by [amount of UBIA].
I only have one K-1 for this business, and the UBIA is automatically calculated. How do I fix this? If I proceed to file without correcting the error, TT deletes the number from the UBIA field completely.
Thanks for any help.
Exact same problem and this is a new issue, so I'm super pissed because I though we were good to go.
I think I may have found a fix for this error. I switched to forms view, went to Statement A for the K-1 and entered the TT-calculated UBIA into the UBIA field on the Statement. I ran the error check again and it cleared. For some reason the program must not be pulling the UBIA into the Statement for the K-1. I'm crossing my fingers this works.
adding the TT generated UBIA to Statement A worked for me. Thanks!
Thank you so much for posting this error. I got the same error. Because of you, I fixed mine too!!
Thank you very much:)
Thank you for posting how you fixed the error. You were right! it worked for me too. Thank You!!
Thanks for the solution. I just spent the last two hours trying to figure it out. So very frustrating.
I don't understand your fix to the same issue I'm having. In my 1120S I have one K-1 from a 1065. I decided to delete the K-1 in my 1120S (Turbotax Business) and re-enter the K-1. I scrolled down to Section A and entered exact information from the Statement A-QBI Pass-through Entity Reporting document that came with the K-1. As soon as I enter the Ordinary Business Income, an error occurred on 199A Stmt A Sum (Page 1).
I'm not sure why this is happening because the income number is the same as the K-1 amount.
my error: Ordinary business income - The total amount is large than the amount allocated to all Schedule K-1 Statement A to ensure that the combined K-1 amounts for this item are increased by $
Can you help with this?
I ran into this issue on my 2021 Scorp return, I tried to understand this issue however could not locate issue. In any circumstance what I did to resolve is during the step-by-step questions regarding QBI adjustments fields, I just put the same number in adjustment fields that was shown, and it solved the problem.