About pjn

pjn

The reason it says STMT for V is because IRC 199A is not as simple as many think. For some business types it could be just net income, for more complicated business you may have to factor in items affecting QBI by components such as Wages, Deprn, Sec 179 and a host of other expenses potentially. It almost follows the same logic like the now eliminated DPAD.

pjn

Why can't you use F8995? I have filed several returns already with no problems. Same for Pro series the professional software.

pjn

If understand your issue correctly, a Sec 179 cannot generate a loss. It would be limited and the carryover claimed in the following year.

pjn

Self employment earnings on a sole proprietor is computed as net earnings from a Schedule line 31 then multiplied by 92.35% to get to the self employment earnings subject to SE tax. A Schedule K-1 from From a partnership (Form 1065) should indicate what your self employment earnings are on Box 14. That comes from the partnership's income or loss for the year. You may or may not have access to the detail if it's coming from a partnership where you do not have access to the records. The mileage and other expenses should be accounted in the partnership if understand you correctly. Clearly some of these issues are better handled by a CPA or EA that can help with the tax return.

pjn · ‎February 24, 2020

Hi Wood4481, Sorry to hear that. I filed and transmitted my personal return last week and had no problems at all. Was it Form 1120S or F1040. They had told me back on Friday that there are potential issues with filing F1120S due to finalization of forms that affect the return I am transmitting. I'll wait to see if there is a problem. However, I also filed my own F1120S for my business at the beg of Feb and had no problems. Hope you get it resolved soon.

pjn · ‎February 22, 2020

In case this helps. I had an issue with a 1120S on the F8879-S (using Proseries) and spent quite of bit of time with customer service. Talked to 3 people at different times since some did not know what was going on with ERO PIN selection etc. Also had an issue with the Sch K-1 with regards to QBI information such as Sec 179 and other items until the last tax expert for Proseries found out that finalization of F8879-S and issues with QBI will not finalize until 2/28. There were some work around that I could've done and customer service agreed to, but the recommendation that I received to ensure smooth acceptance was to wait until then to efile F1120S's. I expressed that I would do so, but could put a strain on tax preparers since F1120S are due by 3/16. Hope it helps...

pjn · ‎February 19, 2020

Hi dondant, Verify that the pension income was entered correctly and not as trade or business income or other income subject to self employment tax. Take a look at a copy of the return and see if a Schedule C was generated. CollenD3 also made some suggestions on places or records you should look at. It appears that is an input error. Also, look at any loss carry forwards that could generate a QBI statment, but with zero deduction for obvious reasons. Hope it helps.....

pjn · ‎February 6, 2020

Irene, This has been resolved. See previous reply and my comments. Thanks

pjn · ‎February 5, 2020

That's great. I'll keep the step by step in mind when faced with another issue. I've always use the forms mode. Thanks. P.S. Issue resolved for those facing the same questions.

pjn · ‎February 4, 2020

This screen probably appears on the interview format. When using the forms format, such screen is not visible. Instead what did was I proceeded to scroll down where you enter Line 17 V code and found Section D1 that captures Statement A information and filled appropriate information and that cleared the error. Section D2 is filled mostly with information already on Sch K-1 and from other parts of the return.

Date Registered	‎June 3, 2019 1:59 PM
Date Last Visited	3 weeks ago
Total Messages Posted	18
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Re: Error Check Message Section 199A Inputs

Re: Error Check Message Section 199A Inputs

Re: Error Check Message Section 199A Inputs

Re: Error Check Message Section 199A Inputs

Re: 1120S Error Message on Transmit for 2019 Retur...

Re: 1120S Error Message on Transmit for 2019 Retur...

Re: This deduction propagates from the QBI Deducti...

Re: K-1 for S corp Other info box 17 with V code e...

Re: K-1 for S corp Other info box 17 V code error ...

Re: K-1 for S corp Other info box 17 V code error ...