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Business & farm
The IRS Instructions for Form 1120-S Schedule K-1, box 17, code AC can be found at this link. Code AC on a properly prepared 2019 Form 1120-S Schedule K-1 is not for Section 199A (QBI) information.
The QBI information on a properly prepared 2019 Form 1120-S Schedule K-1 should be on a Statement or STMT associated with box 17 code V.
It is possible that your K-1 contained both code AC and code V on the same Statement/STMT.
Also, at one point there was a report that when you have both code AC and code V for box 17, that the code V information must be entered first, and then the code AC information.
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‎April 16, 2020
7:57 AM