1120 S Schedule A

[coalie]

I am trying to file a simple return for an S corporation that had just some simple interest income that it distributed out to a single shareholder.  TT keeps giving me an error asking for the Shareholder's name and EIN which on form 1120 S Schedule A that it won't even let me fill in.  I don't want to ignore the error and file by mail.  Any ideas?

[Anonymous_]

Can you clarify this situation?

Is there more than one shareholder?

Schedule A? Where did you enter the interest income? 

[coalie]

Thanks for asking:

1)There is only one shareholder.

2)I input my interest income on 1099-INT...no issue.

3)TT is asking me to fill out "1120S, statement A, QBI Pass-through entity" with the EIN and name of the shareholder.  I don't know why it needs this form, and it won't let me fill in the fields anyway when I try so I keep getting the error.

Any help much appreciated.

[AliciaP1]

Shareholders of an S-Corp have to be reported with the business info.  The only TurboTax product that supports filing an S-Corp return is TurboTax Business.  If you purchase that software and walk through the step-by-step instructions it will guide you through the business info then the shareholder info where you would input that information.  Once that is complete the interest income can be added to the income section of the return.

No tax is due with an S-Corp return as it is a pass-through income business structure.  The K-1 from your S-Corp return will then be used to populate your personal returns including any QBI deduction you may be eligible for.

[coalie]

Thank you and yes I understand all that and have entered the interest income and the shareholder information correctly.  There is an issue with the program for this form that it is saying I have not filled in the relevant shareholder name and EIN (which I have!) but it won't let me fill them in the place where i said it is needed.

[Anonymous_]

@coalie 

This issue has been reported by several other users and has been forwarded to the moderators.

Thank you.

[JamesG1]

You are referring to Statement A QBI Pass-through Entity Reporting.

Is the 1099-INT the only income that you are reporting or have you entered ordinary business income (loss) as well?

Statement A accompanies Schedule K-1 and guides the recipient of the K-1 in reporting and qualifying for the qualifying business income deduction.

Are you able to view Statement A under Forms and see whether the information can be added there?

[Anonymous_]

It is the form in the screenshot below and some users are experiencing an issue when they try to enter an SSN. This issue has been reported.