My schedule k-1 form 1120-S in box 17 listed as V* then in the box it has STMT what does this mean?

posted

Code V in Box 17 of your 1120-S K-1 is Qualified Business Income (QBI) deduction information (Section 199A info). The STMT is referencing a statement you should have that reports the details needed to figure the deduction. You can get the statement from the K-1 issuer if you do not have it.

When you enter the K-1, put a checkmark in Box 17 and enter Code V in the details. Then the next screen will allow you to enter the details of the Section 199A information from the statement.

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