I have posted this in prior years but you may have not provided enough information to claim your 199a income. Here is a number of steps to report this.
- Go to federal>wages and income>Business Investment and Estate/Trust income>Schedule K1
- Enter information on your form in accordance with the questions asked.
- After entering the information regarding your K-1. Enter information if any in Boxes 1,2, and 3. Check the box that indicates there are amounts in more than Boxes 1,2, &3.
- Check Box 20 and press continue.
- Pick code Z from the drop down. Leave the amount blank. Turbo Tax will determine that amount from the questions that follow. press continue.
- Continue through the questions. Be sure to mention that your investment is at risk.
- And then continue through the questions. As I mentioned above, some of the information required to complete section 20 is mentioned in the supplemental statements that came with the K-1.
- The information needed for the follow-up questions should be in the supplemental statement that came with your K1. Look on the statement for instructions or specific information to record in Line 20 of your tax return.
Let us know if this helps or if you have further information.
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