Errors During the Review Process - Section 199A

[ssevers]

I am getting this message related to my 199A income:

Sch K-1 Wks-S Corporations: Box 17 Code V has been selected but no Section 199A income has been entered on Statement A.

I entered all info from my K-1 into the menus selecting the appropriate letter code for each item. Not sure what I need to do here. Is there a separate data page for Statement A?

Thanks.

[bzvine]

Same error in new processing for 2023 returns. 

[JamesG1]

Follow these steps:

• At the screen Enter Box 17 info, you likely need to select code V Section 199A information.  Click Continue.
• At the screen We need some information about your 199A income, you will need the following information:
•     Ordinary business income (loss) from this business,
• You may need the following information:
•     W-2 wages for this business, and
•     UBI of qualified property for this business.
• Enter these values for the qualified business income deduction to be calculated.

Enter the section 199A information for the box 1 activity.  The preparer of the Schedule K-1 should provide section 199A information to compute the qualifying business income deduction for the entity income.

2023 Shareholder’s Instructions for Schedule K-1 Form 1120S page 17 states:

The S corporation will provide the information you need to figure your deduction.

@bzvine