The Schedule K correctly shows line 11 as a positive number and therefore the SC 1120S line 1 is correctly reported at $138,355 based on the instructions for the form. This is not a TurboTax issue and you may want to seek assistance from a tax professional in your area.
Per the instructions for IRS Form 1120S Schedule K line 11:
Complete Part I of Form 4562 to figure the corporation's section 179 expense deduction. The corporation doesn't take the deduction itself, but instead passes it through to the shareholders. Attach Form 4562 to Form 1120-S and show the total section 179 expense deduction on Schedule K, line 11.
Per the instructions for IRS Form 4562 Part I:
Enter the total cost of all section 179 property you placed in service during the tax year (including the total cost of qualified real property that you elect to treat as section 179 property).
Per the instructions for SC Form 1120S line 1:
Line 1: Enter the total of federal Schedule K line 1 through line 12 income (loss) amounts.
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