Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 30, 2023 6:34:29 AM

Why do I get a Smartcheck error on Sch K-1 Wks-S Corp - "Box 17 Code V has been selected but no Section 199A income has been entered on Statement A."? It has been added.

The K-1 Box 17 Code V value is "STMT", and I have filled out the required Statement A information.  Any ideas on how to get around this?  Similar errors from previous years recommend clearing browser cache, but I have tried to enter this info on multiple computers and get the same result.

0 2 716
1 Best answer
Expert Alumni
Mar 30, 2023 6:57:08 AM

Follow these steps to enter Section 199A income and information:

 

  • Go through the K-1 screens.
  • At the screen Enter Box 17 Info, select V-Section 199A information.  Leave Amount empty.  This tells the software that Section 199A information will need to be entered for the income previously reported.  Click Continue.
  • At the screen We see you have Section 199A income, select the appropriate income description.  Click How would I know this? for more information.
  • At the screen We need some information about your 199A income, select the appropriate income description and amount from the 199A detail provided with the K-1.  You may need to click XXX has business income (loss).
  • In some cases, you will also select and enter values for W-2 wages and UBIA of qualified property.  Click Continue.

@JohnJ1863 

2 Replies
Expert Alumni
Mar 30, 2023 6:57:08 AM

Follow these steps to enter Section 199A income and information:

 

  • Go through the K-1 screens.
  • At the screen Enter Box 17 Info, select V-Section 199A information.  Leave Amount empty.  This tells the software that Section 199A information will need to be entered for the income previously reported.  Click Continue.
  • At the screen We see you have Section 199A income, select the appropriate income description.  Click How would I know this? for more information.
  • At the screen We need some information about your 199A income, select the appropriate income description and amount from the 199A detail provided with the K-1.  You may need to click XXX has business income (loss).
  • In some cases, you will also select and enter values for W-2 wages and UBIA of qualified property.  Click Continue.

@JohnJ1863 

New Member
Apr 1, 2023 5:10:47 AM

Thank you for your response.  I went back through and was able to resolve the issue I was seeing and now the review does not throw an error.  The issue was related to rental income.  I didn't see an entry field for rental income on the Section 199A screen until I clicked on the business income option.  Once I clicked on business income, more income options were displayed, including rental income.  At that point, I was able to enter rental income in the correct location. 

 

My Statement A has separate fields for "Ordinary Business Income" and "Rental Income".  I was confused that TurboTax did not display "Rental Income" as one of the initial options.  It is only visible after checking the "Business Income" box.  It would be helpful if turbotax display rental income on the initial screen.

 

Thanks again!