I am trying to input my K1 from my Trust. I have 2 numbers under Section I - one for REIT and one for PTP. When I initially tried to add both to the same document, Turbotax indicated that PTP should be documented in a separate K1 instead. The only information provided on my K1 for Code I is that the REIT is 48 and the PTP is 16. So I created the second K1 with only the Code I 199A number in there (16). At no point does it ask me for more information on that 199A. When I go to submit, Turbotax says "Sch k-1 wks-ests and trusts box 14 code i has been selected but no section 199a income has been entered on statement A." However, that income was entered in the 1 place it asked me. It then shows the Worksheet to fix however it is not editable. And I clearly see the 16 entered next to Code I- 199A so it is there. I tried deleting it 3 times and redoing it and it's not fixing the problem.
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When you report Schedule K-1 information on two separate K-1 entries, be sure to complete Part I on both copies. Assuming the second K-1 is for the REIT, enter only Box 14 Code I, then follow these steps:
Hi, that is exactly what I did, but when I do the “Final Review” it still says “no section 199A income has been entered on Statement A.”
Have you reviewed the other K-1 to be sure you entered at least one type of income during the QBI interview? Do you have any other sources of QBI on your return that could be causing this error message?
So I did the first K1 with all the trust information and numbers and the PTP amount of 16. The second K1 only lists the REIT of 48 (in addition to filling out Part 1). In the Final Review, it seems turbotax only has an issue with the almost full K1 which includes the PTP. In that K1, the only place where I see anything about QBI is the QBI carryovers, which I put zero for.
When you reviewed the K-1 entries for the PTP, did you see the question "We see you have Section 199A information"? If so, you may need to complete those interview questions, if only to satisfy the Smart Check review.
It would help to know the full text of the Smart Check message you get for the PTP K-1.
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