Section 199A Income on K-1

[AbrahamT]

Yes, that is correct. Simply type in 193 in the box which shows 190 as your Section 199A information. That should make the error go away. Section 199A income subject to the qualified business income deduction would typically be the amount that is carried from  the Box 1of the K-1 though not necessarily all the time.

[taxquestions44]

I did change the amount to 193 and I still have a red Z.  Any other idea of what the error could be?

[DaveF1006]

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. 

1. Go to federal>wages and income>Business Investment and Estate/Trust income>Schedule K1
2. Enter information on your form in accordance with the questions asked.  
3. 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.
4. Check Box 20 and press continue.
5. Pick code Z from the drop down. Leave the amount blank. Turbo Tax will determine that amount from the questions that follow. press continue.
6. Continue through the questions. Be sure to mention that your investment is at risk.
7. 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.
8. 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.

@taxquestions44 

[garbo81]

thank you

[migdalskiy]

I have a K-1 that had the error on code Z, even though I entered all the Section 199A /Statement A information (I only had W-2 wages and UBIA). My K1 didn't have anything in Box 1 (no ordinary business income, only rental real estate activity). So I went into forms mode, found the K1, went to Section D1 "QBID-Statement A Information". It has all the Statement A information, like W-2 wages and UBIA. I entered "0" into Ordinary Business Income box and the error was gone. 

[shiva70]

Hi all, I am using Turbotax Deluxe 2022 version.

I have a rental loss on my S-corp and got a K-1 1120S.

However, when I get to smart check - I get an error

Box 17 Code V has been selected but no Section 199 A information has been entered on Statement A

I tried entering the amounts from my statement A from the K-1 and it still does not work - tested with zero, positive and negative - and I still get the same error. Please help me resolve this.

[HopeS]

If you are entering Box 17 using Statement A received as indicated in the screenshot below, then try deleting the K-1 and reentering the information again.  First, review Statement A to make sure you are entering the K-1 Box 17 correctly before deleting it.

Once deleted, log out of TurboTax and clear your Cache before logging back in.

See additional information in the link below

K-1 Statement V

K-1 Box 17

@shiva70 

[stwpcw60]

I had a similar issue with code "Z". I tried many of the previously advertised methods of correcting the error without effect.
I did, however, discover that I could fix the issue by switching to forms mode and entering the value next to the appropriate alphabet code for the line in question (17 / 20). To fill Statement-A data, select the appropriate quick zoom for the line number and code on schedule K-1. Using data provided on K-1 statement A, I entered values on the TT Statement A form. This cured all errors.

For my situation I believe there was some other issue with TT causing the error (perhaps cache?). I say this because I needed to modify the name of the entity providing the K-1 on the K-1 form. However, statement-A associated with the K-1 still showed the old version of the name. I believe there is/was something causing a disconnect between the K-1 form and Statement-A form because I had to change the entity name on statement-A _and_ enter data on the form (step-by-step process simply did not present windows required to fill in business or rental income).

So, to recap: I experienced this error for box 20/code-Z on ten K-1's. To fix it I had to switch to forms mode and directly enter the required data on statement-A for each K-1. Using quick-zoom for the appropriate line/code will take you directly to the appropriate spot on the statement-A form.

[werlin1212]

Does this fix still work? I don't get the same screens that you show.

[ksb2]

This is not the normal way to fix this error, but it may solve the error.  It is worth trying.

If you go back to my reply from last year and follow it, that should resolve your error also.

[AliciaP1]

Can you clarify your specific issue?  This is an old thread and references many different K-1 situations.

@werlin1212