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Deductions & credits
My problem was that the K-1 that my CPA provided had two "code V" values. What worked for me was:
1. Left box V empty on K-1 entry.
2. After I had answered the K-1 related questions, the program moved to a second worksheet to calculate QBI. At first, I entered just the code V values, which doesn't work. What I didn't understand was that I had to enter all the K-1 data again for this worksheet, which means checking the boxes that match your particular K-1 entries. If you look at the Form image of Schedule A it will make sense. Schedule A does the QBI calculation that results in a deduction on your 1040. Turbo Tax doesn't copy over the K-1 entries from the K-1 worksheet to Schedule A, so you must re-enter.
I hope this works for you!
March 23, 2020
12:49 PM