Please review these steps for entering Statement A (QBI Pass-Through Entity Reporting) that came with Schedule K-1 and provides specific information for Line 17 Code V. Note especially Step 3, which can cause the message you have seen.
When entering your K-1, check that it has Box 17 Code V. You don't need to enter any amount for Code V.
- Continue with the interview (this may be several screens later) until you see "We see you have Section 199A information."
- Check the box that applies (usually the first option - income comes from this partnership).
- On the page "We need some information about your 199A income," be sure to check the first box and enter at least one type of income.
- Check any other boxes that appear on Statement A and enter the related amount.
- Be sure to complete the entire interview, especially the question "Do you want to provide more info about [partnership] in case it's needed later?"
- You are not finished until you return to the K-1 summary page.
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