DavidS127
Expert Alumni

Get your taxes done using TurboTax

Because your Section 199A information from box 17 code V wasn't reported on the tax return you filed, you may want to take a look at what an amended tax return looks like.

 

Depending on what is reported on that Section 199A Statement or STMT that came with your K-1, filing an amended tax return may result in a refund.

 

Even if the amount of your taxes doesn't change with an amended tax return, that "not filed" amended return will have the correct amount for any QBI loss carryforwards to 2020.

 

In other words, I would recommend starting an amended tax return, and once prompted by TurboTax to do so, correctly entering your box 17 code V amounts using the instructions posted earlier.  Even if you don't actually file the amended tax return, it will give you "good" numbers for any QBI-related carryforwards that relate to your 2020 tax return.

 

Click this link for instructions on how to file an amended return with TurboTax.

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