I am using Turbotax Business software to produce a Form 1065 return. I received a 1099-DIV that had an amount in Box 5, Section 199A Dividends. How do I enter that?

[begundy]

I am using Turbotax Business software to produce a Form 1065 return. I received a 1099-DIV that had an amount in Box 5, Section 199A Dividends. How do I enter that?

[JulieCo · Accepted solution]

You will have to manually enter the amount in on the form itself since there is not a space to do so in the step by step interview in TurboTax Business.

These amounts will be reported on Schedule K, Box 20, with a code of AC.  These are the dividends that are passed through to the partners/members that do qualify for the Section 199A deduction.

To enter the 1099 DIV box 5 amount directly on the form, select the Forms icon in the upper right corner of your screen (or choose Forms from the View menu at top). Then find Form 1065 p4-5 and select it.  Scroll down Schedule K until you come to Box 20 items.  Underneath the "Recapture" line, you will see a line "Items reported in Box 20 of Schedule K-1"  Below you will see a code box.  There will be a drop down menu to select on the code box so you can select code AC.  Then enter the 1099DIV box 5 amount in the amount field for that line.  See the sample screenshot attached.

To switch back to the interview, select the Step-by-Step icon in the upper right corner, or choose it from the View menu.