Get your taxes done using TurboTax
To report IRS form K-1 (1120S) code V, follow these steps:
- At the screen Enter Box 17 info, you will enter code V Section 199A information. Enter no dollar value. Click Continue.
- At the screen We need some information about your 199A income, you will need the following information:
- Ordinary business income (loss) from this business,
- You may need the following information:
- 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.
