Hi! I really need some assistance I have a question on both codes on Line 17; code V* & AC*, and both have STMT next to them.
Let's start with code V - On the Schedule K-1, Box 17 Code V, Shareholder's section 1199A Information it has the following amounts (fictitious #'s):
Ordinary Business Income: $12,345
W-2 Wages: $123,456
Qualified property: $223,456
What do I input in turbo tax for code V? Do I need to include all of the amounts?
Code AC - On the Schedule K-1, Box 17 Code AC, Gross Receipts for Sections 448 (c) it has the following information & amounts (fictitious #'s):
Description Amount
8990 Gross Receipts for 2021 $111,000
8990 Gross Receipts for 2020 $112,000
8990 Gross Receipts for 2019 $113,000
What do I input in turbo tax for code AC? Do I need to include all of the amounts?
