K1 and the V code

Rick168 — Thu, 12 Mar 2026 17:28:12 GMT

i have a V in box 17 on K1,however the statement A does not show any number. im getting flagged on the check. Should V be the income form Box 1 ? When I insert that figure which seems to make sense-my tax owed lowers.

also, should i be reporting the AC gross, AJ Aggregate Biz activity inc and AJ aggregate deductions on TT?

Re: K1 and the V code

ThomasM125 — Thu, 12 Mar 2026 17:50:13 GMT

The code V is associated with qualified business income (QBI). That would likely mean the income reported in box 1 on your K-1 schedule is at least partially QBI income, but you may have to ask the issuer of the K-1 schedule to be sure.

You should report the gross receipts (AC gross) if it is listed on your K-1 schedule, same for Excess business loss limitation (AJ). Can you clarify what you mean by aggregate deductions?

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K1 and the V code

Re: K1 and the V code