Get your taxes done using TurboTax
When you enter a Schedule K-1 form you received from a business with QBI, make sure you have entered all the information on the Statement or STMT that came with the K-1 you received. That Statement or STMT will be associated with box 17 code V, and should be designated as "Section 199A" information.
To enter your box 17 code V information properly, Continue through the K-1 interview after you have entered your code V for box 17. You don't actually have to enter an amount on that box 17 screen, it doesn't "feed" any calculation. There is a screen near the end of the interview titled "We need some more information about your 199A income or loss". This screen must be completed in order for your box 17 code V information to be correctly input into TurboTax.
Here is a screenshot of the screen you are looking for:
And, depending on what is reported on your K-1 statement, you may need the next screen as well:
To get back to the K-1 summary screen and find the Schedule K-1 to edit, click the "magnifying glass Search" icon on the top row, enter "k-1" in the search window and press return or enter, and then click on the "Jump to k-1" link to find the K-1 you need to edit.
