Question

Form 1065 K-1 Section 199A Statement A

Forum|Forum|3 years ago
April 15, 2023
2 replies
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After file tons of return forms, somehow, I missed the 199A Statement A ordinary income loss textbox (from K-2 Box 20 elective Z statement).

Turbotax won't let me file federal return nor allow me to fill in one tiny missing field.

How do I rectify this? From top of my head is unselect Section 20 Z statement and file it.

But I prefer to fix it before file it to save IRS and my time because we both know it's automatic rejected. Even as TurboTax won't let me file it, why can't I fix it?

PatriciaV

Employee

Schedule K-1 Box 20Z refers to Section 199A or QBI. The questions about this entry are presented after you complete the entry for Schedule K-1. Click Done at the bottom of the screen to continue.

At the screen We see you have Section 199A income, select the appropriate income description. Click How would I know this? for more information.
At the screen We need some information about your 199A income, select the appropriate income description and amount from the Statement A attached to your K-1 information.

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H

hollabigjAuthor

This is already rectified and resolved.

What I did was close the TurboTax and open it up again that allow me to fix the form 1065. Also, I think TurboTax has typo on 199A because it doesn’t exist. I think they meant 19A related to Z statement like you said QBI.

IRS accepted and didn’t reject my form 1065.