What does this mean? Everything appears correct. SCH K-1 WKS-S CORPORATIONS BOX 17 CODE V HAS BEEN SELECTED BUT NO SECTION 199A INCOME HAS BEEN ENTERED ON STATEMENT A

[JamesG1]

Follow these steps:

• At the screen Enter Box 17 info, you likely need to select code V Section 199A information.  Click Continue.
• At the screen We need some information about your 199A income, you will likely need the following information:
•     Ordinary business income (loss) from this business,
•     W-2 wages for this business, and
•     UBI of qualified property for this business.
• Enter these values for the qualified business income deduction to be calculated.

Enter the section 199A information for the box 1 activity.  The corporation should provide section 199A information to compute the qualifying business income deduction for the entity.

2021 Shareholder’s Instructions for Schedule K-1 Form 1120S page 15 states:

The S corporation will provide the information you need to figure your deduction.

@Melissa865