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New Member

Section 199A Income on K-1

I am having the same problem.  I have 2 k-1s for a married couple.  One K-1 has no problems and clears the review.  The second one is entered the exact same way and is coming up as an error on the review (no 199a income on Statement A).

.   It's driving me nuts.

 

Help

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Employee Tax Expert

Section 199A Income on K-1

More information may help resolve your issue. For example, what kind of K-1 are you entering (Form 1065, Form 1120S, Form 1041), what version of TurboTax are you using (Online or Download/CD), and what sort of information do you have on your Section 199A Statement/STMT?

 

@kpkeat616

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New Member

Section 199A Income on K-1

Tax form 1065,  cd,ordinary business income and UBIA of qualified property, SSTB is checked.  There are 2 k-1s, one for each partner.  Both are entered exactly the same way, but one came back as an error (no 199a income on statement A) when the review is run.  I don't understand what the problem is.  Help.  Thanks.

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Employee Tax Expert

Section 199A Income on K-1

Because you are using a Download/CD version, you can to go to Forms mode (icon top right in blue bar) and find the K-1 Partner form with an issue.  Click on that K-1 Partner form in the Forms in my Return pane, and the form will open in the window.  

 

Scroll down until you find Section D1 and D2 of that K-1 Partner.  Check the entries in Section D1 compared to the box 20 code Z Statement or STMT you received with the K-1.  Follow the QBI calculation from Section D1 to Section D2.  Section D2 will show the adjustments to the partnership income to arrive at allowable QBI.   From here, the QBI flows to (in the left column) the linked QBI Component for that K-1, and the QBI Ded Summary.  This may diagnose what is "happening" in your QBI deduction calculation.

 

Look for a box with red shading, which is an indication of an error.

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New Member

Section 199A Income on K-1

Thank you David.  I found the missing entry and corrected it.  Ran the review again and all is well.  THANK YOU and stay safe.

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New Member

Section 199A Income on K-1

I have similar problem.  I received a K-1 with Box 20 Z information.  The related 199A information worksheet for that K-1 includes information for 4 separate pass-through entities included in the K-1 of the issuer.  All entities are private partnerships.  TurboTax allows me to enter only the first sub-entity and then assumes I'm done so the other three are missing.  I tried going to Forms, which seemingly allows the entry of more than one pass through entity but I don't seem to be able to override anything to allow me to enter the additional information.  

 

I've seen references in some of the answers to creating multiple K-1 entries in TurboTax reflecting the various entities.  Would that be multiple K-1s for the same head entity with different passthrough entities entered in the 199A section?  If so, would everything else be blank on that K-1 form except for checking off box 20?  Or do I have to somehow need to figure out how to disaggregate each of the 4 sub entities from the head entity?

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Employee Tax Expert

Section 199A Income on K-1

Yes, you create separate K-1's for the same "main" entity when multiple entities are reporting Section 199A information on a single K-1.  And yes, for each K-1 you create, you have to disaggregate the numbers for all the boxes being reported on the single K-1.  So, each K-1 has all the boxes, not just box 20, that apply to that particular entity (main or passthrough).

 

If you can't deduce the box numbers for each separate entity from the information you have, you'll need to contact the preparer of the K-1 for that information.

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New Member

Section 199A Income on K-1

In the section titled "We need some information about your 199A income" you need to choose the first box "Business Income".  When you check that box a drop down menu magically appears.  That drop down menu gives  you many more choices!  You'd never know this unless you randomly chose it.  Very poor design of software.  This was driving me nuts!  30 minutes of wasted time!

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New Member

Section 199A Income on K-1

Same problem.

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New Member

Section 199A Income on K-1

Mt proseries professional correctly handles code z for Section 199A Income and Section 199A W-2 wages

but for Section 199A Unadjusted basis the Z is in red and error message No Sectrion 199 income has been entered on Statement A.  What do I do

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Level 15

Section 199A Income on K-1

@petergoodbody If you are using ProSeries, why not post your issue in that community?

 

https://proconnect.intuit.com/community/proseries/discussion/03/303

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New Member

Section 199A Income on K-1

To get to the statement A all you have to do is enter a number in the amount then select to edit and click on the plus sign.

 

I still have a problem with after the input it still says there is no income listed in the statement A.

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New Member

Section 199A Income on K-1

when you open the forms view, go to quick zoom of the line 20. select the ordinary income box and input 0. It will then clear the "no income for statement A" error.

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Employee Tax Expert

Section 199A Income on K-1

Note that for software with a Forms mode (i.e., Download/CD and ProSeries), the Section 199A Statement detail is not entered on the "box 20" line.  That "box 20" line only needs the code Z entered one time, no amount is necessary on that line.  Instead, either use the QuickZoom button just below that for code Z, or simply scroll down to the D1 ("Statement A") section of that K-1 form, to enter the Section 199A Statement amounts that came with your K-1.

 

To get rid of the "red Z", that Section D1 will need an entry in one of the income boxes that is QBI eligible.

 

@petergoodbody

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Level 1

Section 199A Income on K-1

My situation is similar, but not exactly, like the ones already listed.  I have a K-1 from a new real estate partnership that bought a piece of property in 2019 but hasn't yet started to do anything with it.  My K-1 has no income, but Box 20 is marked with Z, and STMT is shown instead of a dollar amount.  On the "Section 199A Information Worksheet" attached to the K-1, the only thing listed is $150K in column A for "Qualified Property."  As others have experienced, any combination of entering dollar amounts or not for Box 20 and Z, and regardless of what I seem to put in the detail for the UBIA (or elsewhere), the review says "Box 20 Code Z has been selected but no Section 199A income has been entered on Statement A."  What to do?