DavidS127
Expert Alumni

Get your taxes done using TurboTax

You'll need to put the Unadjusted Basis information on the K-1 Section 199A Statement into the "....has UBIA of qualifed property" box on the "We need some information about your 199A income or loss" screen.

 

Enter the code V when you enter the K-1 box 17 screen, but you don't need to enter an amount.  Continue on, and you'll find the screen you need.  When you check the box next to the UBIA of qualified property category, a place will open up to enter your amount.  This screen must be completed with the amounts on your 199A statement in order for your K-1 QBI information to be correctly input into TurboTax. 

 

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.

 

Here is a screenshot of the "We need some information about your 199A income or loss" screen, you enter the Unadjusted Basis information by checking the box next to the last line on that screen:

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