3540624
I've seen other references to this error/issue in prior years, but I can't seem to use the recommendations of leaving the box blank for example to get around it in 2024.
I have section 199A information, other code z. I get this error on checking, and if I double click my amount (-15224), then I can enter the individual components that are on my detailed 199A document. Great, so I enter all those which still totals the (-15224), but I still get the same error. Everything is entered! How do I get around this?
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I recommend reporting Section 199A information as follows:
In TurboTax Desktop Home and Business, I would report Section 199A information at the screen We need some information about your 199A Income.
Click the box to the left of the appropriate items and enter the dollar amount to the right.
K-1 does not have a value for Section 199A income
IRS Partner's Instructions, page 29, states:
Code Z
Section 199A information
Generally, you may be allowed a deduction of up to 20% of your net qualified business income (QBI) plus 20% of your qualified REIT dividends, also known as section 199A dividends, and qualified PTP income from your partnership. The partnership will provide the information you need to figure your deduction.
For IRS Schedule K-1 (1065), at the screen Enter Box 20 info, select code Z Section 199A information. A value does not have to be entered.
Then click Continue.
At the screen We need some information about your 199A income, click the box to the left of the item to be entered. An entry box will open. You may be entering:
Enter value(s) for the qualified business income deduction to be calculated.
I had the same problem. There was a question (page) where I did not make any entries.
The question " We need some information about your 199A income"
You have to check one of the boxes or Schedule A won't be printed.
In my case I checked the first box.
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