You need to enter the code for box 17 which is on the separate statement generated by TurboTax Business. The codes related to the QBI deduction are V, W and Z.

Are you sure W to Z are valid for 2019? Unlike 2018 the 2019 TurboTax Business does not generate W to Z for S Corp K1's and the K1 Form's on IRS website says W to Z are reserved for future. When I checked the worksheets on the 2019 1040 I found that the wages is 0. In 2018 this was in Box 17 Code W but for 2019 the K1 did not have a W Code. Nevertheless to see what happens I entered W Code in the Box 17 of K1 on the 1040 with the wage amount and the QBI worksheet still shows a "0" wage. It is probably because of the "0" wage that the QBI is not calculating correctly.

In addition to the above when I look at 1040 QBI work sheet I see that the QBI amount and the Wages are "0" even though I tried keying in the codes "V" and "W" with the amounts in K1? Where does the 2019 TurboTax QBI worksheet get the QBI and the Wage amount?

I am having the same problem.

When will form 8995 be available in TurboTax? (on their website it says it is already available)

Code Z (for section 199A income) was entered on the K-1 input; but form 8995 and qualified business income deduction was not calculated on the 1040. Please explain why the deduction is not being calculated ?

Form 8995-A for QBI deduction (Section 199A) is now expected to be available on 2/20/2020.  

I am attaching the Forms availability list for both TurboTax, as well as IRS.  

Forms need to be finalized and approved by IRS before they will accept e-filed returns using these forms through Turbo Tax.

Turbo Tax Forms Availability  TurboTax Forms Availability

IRS Forms Availability  IRS Form Availability

How frustrating. I just spent the last three hours trying to figure out what I was doing wrong before stumbling across this thread. 

If there is a timing issue with finalizing forms, why not simply have Turbotax do what it is expected to do, perform the calculations and fill out the pending forms and then include a check prior to filing to ensure all the forms are up to date before E-filing? Allowing customers to stumble across known application deficiencies does not provide for a very good customer experience.

Hi - it seems the new 8995 forms are still not available in TurboTax Business.   K1 Line 17 is still showing *STMT  Will the forms be ready on time to file ?  

The *STMT means that there is additional information needed (from the S Corp Statement) to complete the calculation, you can view this information if you go into Forms Mode.

The forms are now available, so please try a manual update of your software. Here is a link that will help you with that process:  Manual Update for Desktop 

If you are still having this issue, please contact Product Support and ask them to push you a new copy of the software.  Here is a link for Customer Service/Product Support:  Customer Service and Product Support Contact Info 

@frankyt

[Edited KarenM90, 2/29/2020, 2:55 pm]

Can somebody confirm that form 8995 is actually part of the S-Corp filing?  I am using Turbotax Business.  I just did the manual update per the above post, and do not see form 8995 anywhere in forms.  Does this form exist only in my personal return?  I followed the QBI questions on the step by step and I am showing K1 box 17 with V * then STMT, and then Statement A QBI, as well as 199A.  No 8995 anywhere. 

Hi