Hi:
I am working on a 2025 return K-1 form with *STMT in box 17 using Turbotax Business edition. In past years, I have selected code V in box 17 and left the amount blank per posts I saw. The next screen was for 199A income. This year, I am taken to "Other Situations" screen. I.e. Turbotax thinks it is done, but I never got a chance to enter QBI Income or Wages.
Everything I google tells me to do it the way it worked last year, but that is not working now. HELP!
Terry
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After entering Code V in Box 17 from your Schedule K-1 (1120-S) in TurboTax, you will see the Other Situations screen. Check any box that applies (i.e., All of my investment in this activity is at risk).
Click Continue and the next screen will be for Section 199A Income.
You will indicate where the income is from (usually the S Corp that generated the K-1).
On the following screen, check the boxes beside the income or loss items from your K-1's supplemental Statement A (199A information) and enter the amounts.
I have two items listed on my Section 199A: Code V
Net Retal real estate income:
Qualified Property:
Thanks, had to go forward to screens to enter the data.
Terry
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