I'm doing the 2019 1040 and I received a Schedule K-1 from our accountant for my wife's S-Corp that has an entry V * in Box 17. The statement shows:
TRADE OR BUSINESS
X - SSTB
Ordinary Income (Loss) - $x,xxx
W-2 Wages - $yyy,yyy
Unadjusted Basis - $z,zzz
I'm using Turbotax Home & Business and entered V-Section 199A information in box 17 without an amount
It took me to Other situations, where I thought the entry that applied was that all investments were at risk.
I then answered that the income comes from the S-Corp that generated this K-1.
In the section asking for more info about the 199A income, I was able to enter:
Ordinary business income (loss) - $x,xxx
and W-2 wages - $yyy,yyy
Can someone please advise me where to enter the "Unadjusted Basis" amount, and any other advice.
Thank you