For the Qualified Business Income Deduction to calculate, you need to have entries in box 17 of your K-1, A code V with an amount.
Statement A has more information about the items subject to shareholder specific determinations for computing the Qualified Business Income Deduction.
If your K-1 does not have those amounts in box 17 and/or you do not have the Statement A then the 1120S K-1 form needs to be revised before you can file your personal return to add that information.
At the screen We need some information about your 199A income, you will likely need to enter the following information:
- Ordinary business income (loss) from this business,
- W-2 wages for this business, and
- UBIA of qualified property for this business.
Enter these values for the qualified business income deduction to be calculated.
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