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Dbrody
New Member

K-1 Line 20z & 199A

My K-1 had Qualified Business Income that I enter in Box 20 and also entered Code Z.  The system is saying "no Section 199A income has been entered on statement A."  I can't figure out how to fix the error.  Any thoughts?

2 Replies
rogge1722
Level 8

K-1 Line 20z & 199A

Under wages & income, bring up the k-1 for review.
Cycle thru the screens until you reach the screen with the
header "Enter box 20 info". Verify that code Z with the descriptor and the amount are entered.

 

Then cycle thru several more screens until you reach the one with the header "Any qualified business Income (QBI) carryovers?" If there are any, verify that they are entered.


The next screen states "We see you have section 199a Income". Normally, the top line should be marked.


The next screen header "We need some info about your 199A income." This screen works with Statement A. So if its blank,  insert  the applicable data .


Then cycle thru until the end.

DaveF1006
Employee Tax Expert

K-1 Line 20z & 199A

Here is the order that should appear in your return in Box 20

  1. if there is a Z, select Z in the drop down and leave the $ blank.
  2. Next screen asks about the risk.  indicate you are at risk
  3. Then there will be a screen that appears that says, We see that you have 199A income.Here you have three choices to make.  pick one that is applicable to you.
  4. Next screen will say we need some information about your 199A income. at the very bottom are several selections to make. Refer to your disclosure statements and look for a Statement that should have the information to put into this section.
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