"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?

[AliciaP1]

To correct your K-1 line 17 error and your QBI income information in TurboTax CD/Download you can follow these steps:

1. Within your tax return click on the Federal Taxes tab and Wages & Income then I'll choose what I work on
2. Scroll down to Schedules K-1, Q and click  Update
3. Answer Yes and click Update for S corporations (Form 1120S)
4. Click Edit for the K-1 you need to correct
5. Verify your answers and Continue through the questions until you get to the Enter Box 17 Info screen
6. For the code V line enter the amount in box 17 code V from your K-1 or leave it blank if your form has *STMT in the amount box
7. Verify your answers and Continue until the We need some information about your 199A income
8. Enter the information as it shows on the statement attached to your Schedule K-1 completely
9. Continue until you get to the S Corporation K-1 Summary screen and click Done
10. Proceed entering/reviewing your return.

@rajsekar_63 

[mtndewdewd]

It is a bug in the turbo tax program. You have to enter the FORM view and not step by step and go to the Section D1 and enter your info from the 199A form and it will fix the error.

[AliciaP1]

It is not an issue with the system.  When the Section 199A screen comes up in the Step-by-Step mode you need to mark the box next to the topic that you have populated on your Statement A and enter the information.  Then proceed through your return and the QBI deduction will calculate appropriately with the information you have input.

@mtndewdewd 

[toadflax]

Thanks, I resolved this issue but the tricky part was getting to the part where it said "We need some more info about 199A", because that page with the interview was not appearing for me. I'm not even sure what I did to make it come up, just happy that it did.

Thanks again

[mtndewdewd]

It is as it doesnt show up and only way to enter is to go into the form.