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Inquiry1234
Returning Member

In Turbotax Business, I entered Code Z for line 20, but I am not getting the dialogue box stating "We need some information about your 199A income or loss screen".

I am trying to enter the Statement A - QBI Pass-through Entity Reporting that came with my K-1, which includes amount for W-2 Wages and UBIA of qualified property.
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5 Replies

In Turbotax Business, I entered Code Z for line 20, but I am not getting the dialogue box stating "We need some information about your 199A income or loss screen".

You have to enter the rest of the information in Forms Mode directly on the K-1.

Inquiry1234
Returning Member

In Turbotax Business, I entered Code Z for line 20, but I am not getting the dialogue box stating "We need some information about your 199A income or loss screen".

So is the guidance about "We need some information about your 199A income or loss screen" outdated?

 

Also, in filling in the K-1 information, Turbotax asks if "Section B1 (Qualified Business Income Deduction)" of K-1 has an amount filled in.  There is no Section B1 in the Form K-1. Is this box intended to trigger the Form to complete the Statement A - QBI Pass-through entity reporting info?

In Turbotax Business, I entered Code Z for line 20, but I am not getting the dialogue box stating "We need some information about your 199A income or loss screen".

I answered under the assumption that you were using TurboTax Business.

 

Exactly which product are you using?

Inquiry1234
Returning Member

In Turbotax Business, I entered Code Z for line 20, but I am not getting the dialogue box stating "We need some information about your 199A income or loss screen".

Correct.  I am using the TurboTax Business software.

In Turbotax Business, I entered Code Z for line 20, but I am not getting the dialogue box stating "We need some information about your 199A income or loss screen".

I should also have asked which type of return are you preparing. 

 

I do not get a prompt when entering a K-1 (1065) during the course of preparing a 1041, for example. Also, unless I make a distribution, Statement A does not appear to be generated.

 

Note that you can enter your figures directly on Statement A.

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