Deductions & credits

The entry described by Community user HACKITOFF is accomplished in the interview screens as follows:

For the Section 199A information associated with box 17 code V, enter the code V when you enter the K-1 box 17 screen, but you don't need to enter an amount.  Any amount you enter there doesn't get picked up in the QBI deduction calculation.

Instead, Continue on, and the third screen after that box 17 screen is "We need some more information about your 199A income or loss" screen.  This screen must be completed with the numbers from your Section 199A Statement or STMT.   When you check the box next to a category on that screen, a place will open up to enter the amounts from the Statement or STMT that came with your K-1.  The applicable category (or categories) on this screen (and the following "Let's check for some uncommon adjustments" screen, if applicable) must be completed in order for your K-1 QBI information to be correctly input into TurboTax for the federal tax return.

Note that any Unadjusted Basis of Assets amount goes on the "....has UBIA of qualified property" line.

To get back to the K-1 summary screen and find the Schedule K-1 to edit, click the "magnifying glass Search" icon on the top row, enter "k-1" in the search window and press return or enter, and then click on the "Jump to k-1" link to find the K-1 you need to edit.

Here are screenshots of the two screens to enter your Section 199A Statement/STMT information: