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June 25, 2020
Question

Turbo tax is telling me I have 199A income and I should have a Statement A to go along with my k-1. I don't, so what do I do now???

  • June 25, 2020
  • 1 reply
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1 reply

DavidS127
June 26, 2020

Statement A is the TurboTax worksheet terminology for the Section 199A Statement or STMT associated with your your box 20 code Z (partnership), box 17 code V (S Corp), or box 14 code I (estate or trust).  That Section 199A Statement or STMT comes with the K-1 you received.

 

Enter the code Z or V or I when you enter the K-1 box 20 or 17 or 14 screen, but you don't need to enter an amount.  Continue on, and you'll find the "We need some information about your 199A income or loss" and "Let's check for some uncommon adjustments" screens.  When you check the box next to a category, a place will open up to enter your amounts.  These screens (if applicable to the amount(s) on your statement) must be completed in order for your K-1 QBI information to be correctly input into TurboTax. 

 

To get back to the K-1 summary screen and find the Schedule K-1 to edit, click the "magnifying glass Search" icon on the top row, enter "k-1" in the search window and press return or enter, and then click on the "Jump to k-1" link to find the K-1 you need to edit.

 

Here are the "We need some information about your 199A income or loss" and "Let's check for some uncommon adjustments" screens where you enter the information from your K-1:

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