Error Message for Schedule K-1 (S-Corp)

[gjzw1cke]

I entered all of the information from a Form 1120S, Schedule K-1 for an S-Corporation.  In box 17, my form has a code of V.  I entered the pertinent information, but TurboTax (Deluxe 2019) keeps saying that "Box 17 Code V has been selected but no Section 199A income has been entered on Statement A" even though I entered the amount of Section 199A income, and it is showing up in the form.  TurboTax won't let me complete my filing with this error, but I'm not seeing how to correct the error.

[DaveF1006]

Try this and see if this works.  Turbo Tax is requiring that additional information to be recorded in the return to support the amount listed in Box 17:

Here is the order that should appear in your return in Box 17

1. if there is a V, select V in the drop down and record the $.
2. Next screen asks about the risk.  indicate you are at risk
3. 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.
4. Next screen will say we need some information about your 199A income.  Here you need to refer to Statement A, which should have been included in your disclosure information that came with your K1.   There are 8 entries in this screen and Statement A will have information to put into this section of the return. This is very important in order for you to claim the QBI deduction in your return