ThomasM125
Expert Alumni

Business & farm

Code 17(v) indicates that you have qualified business income (QBI). It is normally the same amount as your income reported in boxes 1 to 3 on your form 1120-S schedule K-1, but it can vary.

 

There should be a schedule attached to your K-1 form telling you what the amount is, if it is not listed directly on the K-1 schedule in box 17. You need to enter the QBI income in the box 17(v) entry in TurboTax.

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