I have an S-Corp (LLC single member) and created my 1120S using Turbotax Business, which generates a K1 for my personal income taxes. On that K1, line 17 ("Other Information") has a code V, and under the amount just says "STMT".
When I enter that K1 into my personal income tax, Turbotax Premier is flagging that line 17, saying "Box Code V has been selected, but no Section 199A Income has been entered on Statement A"
My 1120S has a "199A Statement A Summary" which has two lines (one in each of two columns) of which one is a loss (negative number) and another is positive (the rental income).... sounds to me like something should be entered from that on the K1 on my personal income tax, but I can't figure out which one - or why.
Help, please?
