"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?

[mikek947]

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

[dave67]

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?

[mikek947]

Still waiting for a solution to this problem. 

[tabney33771]

Still waiting as well...

[DavidS127]

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

[mikek947]

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.

[MaryK4]

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

[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?

[mikek947]

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

[DavidS127]

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

[mikek947]

left  Code V in Box 17 with no amount and continued and entered the amount at more info. STILL GET ERROR at review

[DavidS127]

If the Code V entry is a single amount, try to enter that single amount in the box 17 code V instead of leaving it blank, and Continue to the "more information" screen to make sure it is still entered correctly. 

If there are multiple amounts associated with the Code V, please share the amounts from your Statement A, to help diagnose the issue.

[mikek947]

I originally had the amount in Code V and was getting the error. I removed the amount and was still getting the error. V is still highlighted.

[mikek947]

Still waiting for a solution!

[homesecure]

Has this been fixed yet and/or updated ? It’s still showing that error today