topic Can't get TurboTax to submit my return. It say's I need an amount entered for the section 199A income. in Get your taxes done using TurboTax

Can't get TurboTax to submit my return. It say's I need an amount entered for the section 199A income.

suds — Sat, 21 Mar 2020 16:05:27 GMT

I entered the amount from my K-1 during the interview stage, and this amount appears to be indicated in the corresponding form line. Now I've tried entering the amount directly on the form. When I press submit, it loops me back to the message that I have not entered an amount for the section 199A income.

Re: Can't get TurboTax to submit my return. It say's I need an amount entered for the section 199...

ThomasM125 — Mon, 23 Mar 2020 20:29:56 GMT

If your K-1 is from a partnership (form 1065), you need to look in box 17(v) for the section 199A income. If your K-1 is from an S corporation, you need to look in box 20(z).

The section 199A income is qualified business income (QBI) and you may get a deduction for it on your tax return. Also, you may have to look for a statement attached to your K-1 schedule to find the amount, it may not be listed directly on the K-1 schedule.

Re: Can't get TurboTax to submit my return. It say's I need an amount entered for the section 199...

GannCE — Mon, 30 Mar 2020 19:40:24 GMT

The suggest path contravenes the IRS indications. -Line 17 V is for something totally different-. My K1 is a 1065 and have verified its accuracy with the company and external accountant. Likewise IRS has had updated information...box 20 applies to 1065 ....not exclusive for S Corps.

PLEASE HELP>>>I am otherwise unable to file either electronically or printed paper.

Re: Can't get TurboTax to submit my return. It say's I need an amount entered for the section 199...

DaveF1006 — Mon, 30 Mar 2020 20:29:43 GMT

I think i know your issue. in Box 20, is there a "Z" listed but no amount. If so, you may need to perform these additional steps.

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

if there is a Z, select Z in the drop down and leave the $ blank.
Next screen asks about the risk. indicate you are at risk
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.
Next screen will say we need some information about your 199A income. at the very bottom is a selection that says xxx has UBIA of qualified property. When you select that, then the screen will prompt you to put in a $ amount.

You may need to look at a disclosure statement that came with your K1 that has the additional information you need. If you don't have the information to report after performing the steps outlined above, the only thing you can do is remove the "Z" in the drop down and leave that entry blank. If you don't, you will continue to have these error messages.