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Get your taxes done using TurboTax
Yes, here is how you will report code V on line 17 on the 1120S form:
- There is information required in this section that is enclosed in a supplementary statement that came with your K1.
- When you enter your K-1 into your return, you will select Box 17as a box that has information in it.
- After entering the information that is on the form, you will eventually be given the opportunity to work on Box 17, there will be a drop-down in the Box. Here you will select Code V,, section 199 information. Leave the amount blank as Turbo Tax will fill that information in for you. Press continue at the bottom.
- The next few screens will ask for answers that you will provide to the program that is on that supplementary statement.
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March 4, 2022
6:27 PM