Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Jul 12, 2020 4:57:54 PM

How to fill "We need some information about your 199A income" when you did not get a "Statement A" with your Schedule K-1

Hi all,

 

I received a Schedule K-1 with the usual Ordinary business income in Box 1:  

 

 

and with Section 199A income in Box 20, Code "Z":

 
 

 

After entering the K-1 info, Turbotax says  "We need some information about your 199A income" and "You should have received a Statement A with your Schedule K-1".

 

I did not receive a "Statement A" in my Schedule K-1.  Instead, there was a page inside Schedule K-1 titled "Section 199A Information" and stating "THE PARTNERSHIP IS CONSIDERED A RELEVANT PASSTHROUGH ENTITY. THE FOLLOWING AMOUNTS REPRESENT YOUR SHARE OF SECTION 199A ITEMS":

 

 

Based on the information here, is this the right way to answer Turbotax? I am confused because the wording in the Turbotax question about 199A income refers once again to "ordinary business income", which is, of course, already provided in Box 1 (425). But that's different from the amount shown in "Section 199A Information", which simply repeats the Box 20Z info (450). i would appreciate any help. Here is my best guess, and I am also not entirely sure about Wages and UBIA, so all help appreciated:

 

 

Thanks in advance!

Gary

0 1 1140
1 Best answer
Expert Alumni
Jul 13, 2020 4:53:49 PM

You have entered your Section 199A information correctly.  The Statement A in your case is the name the K-1 preparer (software) uses for the Section 199A Statement.

1 Replies
Expert Alumni
Jul 13, 2020 4:53:49 PM

You have entered your Section 199A information correctly.  The Statement A in your case is the name the K-1 preparer (software) uses for the Section 199A Statement.