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New Member
posted Apr 15, 2023 1:37:52 AM

Form 1065 K-1 Section 199A Statement A

After file tons of return forms, somehow, I missed the 199A Statement A ordinary income loss textbox (from K-2 Box 20 elective Z statement).

Turbotax won't let me file federal return nor allow me to fill in one tiny missing field.

 

How do I rectify this? From top of my head is unselect Section 20 Z statement and file it.

 

But I prefer to fix it before file it to save IRS and my time because we both know it's automatic rejected. Even as TurboTax won't let me file it, why can't I fix it?

0 2 368
2 Replies
Expert Alumni
Apr 16, 2023 8:20:20 AM

Schedule K-1 Box 20Z refers to Section 199A or QBI. The questions about this entry are presented after you complete the entry for Schedule K-1. Click Done at the bottom of the screen to continue.

  • At the screen We see you have Section 199A income, select the appropriate income description.  Click How would I know this? for more information.
  • At the screen We need some information about your 199A income, select the appropriate income description and amount from the Statement A attached to your K-1 information.

New Member
Apr 16, 2023 12:42:42 PM

This is already rectified and resolved.

 

What I did was close the TurboTax and open it up again that allow me to fix the form 1065. Also, I think TurboTax has typo on 199A because it doesn’t exist. I think they meant 19A related to Z statement like you said QBI.

 

IRS accepted and didn’t reject my form 1065.