Schedule K-1, Box 17, Code V- Multiple Entries

I am a single shareholder and owner of an S Corp. I have a K-1 from my business and need to enter it into my personal tax return.

I have 3 entries for Box 17, Code V, and not sure how to enter them in Turbotax:

-Ordinary business income

-W-2 wages

-Qualified property

Please let me know.

420

Level 15

Jan 7, 2023 12:02:33 PM

Those are for the QBI/199A section of the k-1. scroll down until you get to that section. (forms mode)

Level 1

Mar 7, 2023 11:39:13 AM

Mike9241, where is the QBI/199A section of the k-1 screen in Turbotax? I do not see it anywhere and there is no where else to scroll down to in the K-1 section.

Expert Alumni

Mar 7, 2023 12:56:52 PM

You can access this using Forms Mode in TurboTax for Desktop.

Open your return and click the Forms icon in the TurboTax header.
Look for K-1 S Corp in the left column. Click the form name to open it in the large window.
Scroll down to Section D1.
Complete the entries needed to report the income from the K-1.
Click the Errors icon above the forms list to be sure you have no errors on this form (boxes/font will be red), which will appear in the form footer.
Click Step-by-Step to go back to the main screens.

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Schedule K-1, Box 17, Code V- Multiple Entries