Business & farm

When you enter the K-1, and include Code V from Box 17, you will be asked follow-up questions a few screens later.  Did you complete these questions?   You will be asked to enter the qualified business income components.   See images below.

Look for Form 8995 or 8995-A (you may have more than one) in your tax return - this is where you will see how TurboTax calculated the amount.   

The deduction amount depends on the taxpayer's total taxable income, which includes wages, interest, capital gains (etc.) in addition to income generated by the business. Once the taxable income reaches or exceeds $191,950 ($383,900 if filing jointly), the type of business also comes into play.   From this very detailed TurboTax FAQ