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Check to make sure you selected the correct Form 1120S (S Corp) Schedule K-1 to enter, and not a Form 1065 (Partnership) or Form 1041 (Estate/Trust) Schedule K-1.
To get back to the K-1 summary screen and find the Schedule K-1 you started, 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 are working on. If you find you started a K-1 for something other than your S Corp, you'll need to delete that one and start a new K-1 for an S Corp.
For the Section 199A information associated with box 17 code V for a S Corp Schedule K-1, 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 "We need some more information about your 199A income or loss" screen. This screen must be completed with the numbers from your Section 199A Statement or STMT.
When you check the box next to a category on that screen, a place will open up to enter the amounts from the Statement or STMT that came with your K-1. The applicable category (or categories) on this screen (and the following "Let's check for some uncommon adjustments" screen, if applicable) must be completed in order for your K-1 QBI information to be correctly input into TurboTax for the federal tax return.
Here are screenshots of the two screens to enter your Section 199A Statement/STMT information:
[Edited 6/20/2020|1:31pm PST]
