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February 15, 2020
Question

"Sch K Box 17 Code V has been selected but no Section 199A income has been entered on Statement A." I HAVE 199A income entered on statement A. How can I fix this error?

  • February 15, 2020
  • 9 replies
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9 replies

February 15, 2020

Section 199A is also known as the Qualified Business Income Deduction. This form will not be available until February 20, 2020. Once the form is available, the error will clear itself.

February 21, 2020

It's Feb 21st and the error still exists. What happened to the update?

February 23, 2020

It's 2/23 and it's not working for me either!

March 10, 2020

Has this been fixed yet and/or updated ? It’s still showing that error today 

March 10, 2020

No nothing has been fixed yet. I don't think they know how to fix it. 

March 12, 2020

I was able to fix the error for the 8995, but I can't recreate what I did.

When I clicked on the error, I think I was able to get information from a help screen.  

I do recall that I added my K-1 income somewhere in the error popup frame. 

 

I wish I could remember exactly how I did it, but I can't seem to recreate it.

March 12, 2020

I just went through this error with the online support.  They had me scroll to the OTHER INCOME option at the bottom of the drop down.  I then clicked on the CONTINUE tab.  It cleared up so I was able to e file.

March 12, 2020

Do you mean  'AC   Other Information'  on the drop down when you click on the error?

March 12, 2020

I clicked on the 'AC  other information' at the bottom of the drop down list and it did fix the error problem.

May 20, 2020

If you have multiple items on your Statement A for Code V in Box 17 of your K-1 (S-Corp), you will need to enter each item separately on the Screen on TurboTax for Box 17. For example, if Statement A for Code V on your K-1 has an amount for Ordinary Business Income ($1,000), and W2 Wages ($15,000), and UBIA qualified property ($50,000). Box 17 in TurboTax will be:
V - Section 199a information     $1,000 

V - Section 199a information     $15,000

V - Section 199a information     $50,000
*** enter negative amounts with (-) sign in front of amount.

On the screen: We need some information about your 199a income or loss, select each item reported on and enter the amounts associated with each as reported on Statement A for Code V.


May 6, 2021

I've read this entire thread twice and see get the error message

 

I'm using TT Software Home And Business for Mac

 

I left the amount for code V box 17 blank since on my K1 it says STMT

 

When it says "we see you have Sec 199 income" I select "this income comes fro the S corp that generated..."

 

Then on the next screen "we need some information about your 199a..." I check has UBIA of qualified property and put in the amount from my K1. That is the only area where I have 199A income listed on my K1

 

I don't know what else to do - I didn't understand the instructions about deleting some form as that seemed related to the online version

 

any help most appreciated

October 14, 2021

I have a similar problem.  I left the box 17V number blank and entered the 199A info by line item at the end of the interview but for some reason it is plugging an incorrect number (very high) to the charitable contributions line on my return.  I double checked the K-1 form and the charitable contributions form and this number that is getting plugged doesn’t appear anywhere.  What is causing it and how do I fix it?   Thanks. 

February 14, 2022

This was a problem last year; is it repeating itself?  I am not able to enter any information that will satisfy this flag by the (not so) "smart check" feature in TTax. 

February 15, 2022

Per ExpertDaveF1006:

 

"You do need to edit your K1 through the income section. You need to provide details about your Code V transaction. To provide the details, you need to look at your disclosure statement that came with your K1. Here's how to edit.

  1. Log into Turbo Tax  if using Turbo Tax Online
  2. Go to federal>wages and income>S-corps, Partnerships, and Trusts>show more
  3. Schedule K1>revisit
  4. Select update next to S corporations (Form 1120S)
  5. Select edit next to the K1 
  6. Scroll to where you entered the Box 17 information. Leave the amount blank. press continue.
  7. Select that your investment is at risk.
  8. The next few screens will ask you specific information about your 199A income. All this information should be on the disclosure statement that came with your K-1. This information you must enter in your return to claim QBI."
March 14, 2022

I am having this same issue.  I have deleted the form and re-entered with no success.  I have also re-entered form and left out the amounts with no success. Also, restarted with another device with same result. 

AliciaP1
April 14, 2023

It is not an issue with the system.  When the Section 199A screen comes up in the Step-by-Step mode you need to mark the box next to the topic that you have populated on your Statement A and enter the information.  Then proceed through your return and the QBI deduction will calculate appropriately with the information you have input.

 

 

@mtndewdewd 

 

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April 14, 2023

Thanks, I resolved this issue but the tricky part was getting to the part where it said "We need some more info about 199A", because that page with the interview was not appearing for me. I'm not even sure what I did to make it come up, just happy that it did.

Thanks again