Irene2805
Expert Alumni

Get your taxes done using TurboTax

Were you issued separate K-1s for each property?  If so, they should be entered separately in TurboTax,  If you only have the one K-1, you can combine the values as JamesG1 states above.

 

Line 17 of the K-1 for an S-Corp deals with income for the 199A (Qualified Business Income) deduction.  To enter this information, please follow these steps:

  1. When entering the K-1, on the screen, Check Boxes that have an Amount, be sure to check Box 17.
  2. On the screen, Enter Box 17 Info, select  Code V but do not enter a number in the box,
  3. On the screen, We see you have Section 199A income, mark the appropriate radio button and click Continue.  
  4. On the next screen, We need some information about your 199A income, mark the appropriate boxes and enter the information in the fields that appear.  This information should appear in the STMT attached to your K-1.]   [See Screenshot below]

 

 

@sykong