"Sch K Box 17 Code V has been selected but no Section 199A income has been entered on Statement A." I HAVE 199A income entered on statement A. How can I fix this error?

Section 199A is also known as the Qualified Business Income Deduction. This form will not be available until February 20, 2020. Once the form is available, the error will clear itself.

It's Feb 21st and the error still exists. What happened to the update?

It's 2/23 and it's not working for me either!

Same problem here, I contacted support by phone Feb. 20th evening and after being on the phone for 45 minutes trying to figure it out through Screen Share they came to the conclusion that even though the Form (8895-A) was released, it wasn't in their system yet and they suggested to wait 48 hrs fir the form to be available through software update....Well, it's now 3 days past 2/20 and nothing has updated or happened yet.

I had my taxes prepared and ready to E-file since 2/7 and this is the only thing I'm waiting for.

I've used Turbo Tax Business and Personal software for many years and now I'm considering switching for 2020 Tax prep.

So far not helpful. I still have the same error code and am leaving the country today. If I have to file an extension because of this, I'll never use TurboTax again. And, I'm getting a refund!

For the purposes of the qualified business deduction, these need to be reported on a 8995A.  This form has not been released by the IRS.

Here is the latest updates on when the forms will be released by the IRS. Please review this IRS link. for information on the latest updates. Looks like 2/28/2020 for the 8995A form.

Hi Dave,

It looks like the form has been out there for two weeks:  https://www.irs.gov/forms-pubs/about-form-8995-a

Your program is stuck and not picking up the information since it became available.

Please do these things:

1. Delete the form:
   1. Open or continue your return in TurboTax.
   2. In the left menu, select Tax Tools
   3. then select  Tools.
   4. In the pop-up window named Tool Center,
   5. choose Delete a form.
   6. Select Delete next to the form/schedule/worksheet in the list and follow the instructions.
2. Log out of your return.
3. Try one or more of the following:
   • Don't use Internet Explorer.
   • Clear cookies and cache, instructions on the links.
     • Google Chrome
     • Microsoft Internet Explorer
     • Safari
   • Sign in using a different browser.
   • Sign in using a different device.
4. Log back into your return.
5. Enter the form again.

@JY07

Again, completely unhelpful. It is well past the date that you said this form would be available on Turbo Tax and it still isn't. I have the same error and can't submit my return. What is the date now???

Delete which form? Form 8995, the Qualified Business Income Component wkst, or the Qualified Business Inc Deduction Summary? 

Have the same problem, but I am using app. on my computer, not the browser. 

If the issue is related to not having a value for box 17 code V, you should return to the entry of that S-corp K-1, for box 17.  It is very important to note that there is a screen near the end of the interview titled "We need some more information about your 199A income or loss".  This screen must be completed in order for your box 17 code V information to be correctly input into TurboTax.

To get back to the K-1 summary screen and find the Schedule K-1 to edit, click the "magnifying glass Search" icon on the top row, enter "k-1" in the search window and press return or enter, and then click on the "Jump to k-1" link to find the K-1 you need to edit.

Hi David S127

On that last page I have checked the following boxes:

Ordinary Business income

Section 179 deduction

w2 wages

UBI of qualified Property

Every thing except the Ordinary Business Income was pre-populated. When I added the ordinary income from the K1 my refund went up. Since I entered the box 1 income on a previous screen why wasn't it pre-populated like the others or am I taken a double deduction?

You are not taking a double deduction when you enter the K-1 according to the interview questions.

The box 1 entry "told" TurboTax you had ordinary income from the K-1.  The box 17 entry told TurboTax that the ordinary income was also QBI.  You can have ordinary income that is not QBI, so the additional entry is needed to get the income classified as QBI.

I have put the values in both places and I still get the error.

DavidS127,

Thanks for the info on the QBI.  Now I run the smart check and get a message that I can not efile because I have a QBI deduction worksheet schedule B - Aggregation of Business Operations.  I only have one business.  When I look at form it shows my business twice same numbers. I also tried deleting the form which doesn't work because it comes back.  Any suggestions?

Still waiting for a solution to this problem. 

Still waiting as well...

If you do not need or want to aggregate any businesses, here is how to “un-aggregate” them in TurboTax Online or TurboTax Download/CD: 

1. Go to Delete a Form: In the left menu, select the dropdown arrow next to Tax Tools and then under that select Tools; in the pop-up window Tool Center, choose Delete a form.
2. Find the QBI Component form for the aggregated businesses.  Delete that QBI Component sheet.
3. Now, go to Review and start the review routine.
4. You will have an error for each business that no longer has a QBI Component form.  For each of those businesses, you will see the “primary” form for that business (Schedule C, Schedule E, K-1). It will be highlighted for Question A in the Qualified Business Income Deduction Smart Worksheet.
5. Double click in the highlighted Question A box, and you will get a pop-up asking you to link to a QBI component worksheet.  Create a new copy for that business (e.g., give it the name of that business).
6. Continue until you have created a separate QBI component worksheet for each business that you do not want to aggregate.

Note that you could also use these instructions to aggregate businesses.  Delete the QBI component worksheets for each business you want to aggregate, go to the Review, and link all the businesses to the same QBI component worksheet.  But, you will not be able to e-file your tax return and must print and mail the return.

You'll need to decide whether or not you want or need to aggregate any businesses in 2019.  Once you aggregate, you must continue to aggregate in future years.  But, not aggregating last year does not preclude you from aggregating this year.    Refer to the IRS instructions for Form 8995-A for more information on aggregation.

@dave67

Sorry, but I do not understand what you mean by aggregate the business.  what does this have to do with sch K box 17 Code V and the error message.

In some cases, you can group (aggregate) different trade or businesses together to get a better QBI deduction.   If you have any wages and capital limitations, they can be calculated for the combined trade or business rather than for each trade or business individually.

If this does not apply to you, see DavidS127's answer above to delete.

@mikek947

I tried removing the QBI form, but it just pops right back in. Isn't there just a simple update to fix this problem?

There still is no Form 8995-A in the program.

Two different issues are discussed in this thread, and each requires a different solution. 

If the issue is related to "Sch K Box 17 Code V", you resolve that issue by entering the Code V in Box 17 with no amounts while you are entering the K-1 into TurboTax, and then Continue through the interview until you find the screen "We need some more information about your 199A income or loss".  That screen is where you enter the Code V amounts from the Statement A  that came with your K-1.  This "We need some more information about your 199A income or loss" screen must be completed in order for your box 17 code V information to be correctly input into TurboTax.

If the issue is related to a "can't efile because of Schedule B aggregation" message from TurboTax, the solution depends on whether or not you want or need to aggregate your businesses that qualify for QBI.  That is a decision you must make as a taxpayer, based on your particular situation and/or whether you aggregated these business in the prior year (2018).  If you want or need to aggregate business, you must print and mail the tax return.  If you do not want or need to aggregate your businesses, follow the instructions provided in my earlier post for that to create a separate QBI Component worksheet for each source of QBI income (Schedule C, Schedule E, K-1).

@mikek947