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After import K-1 (Box 17) -

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Level 2

I imported my K-1 into 1040.  I have an error on the K-1 Box 17.   Is it Code V.  Error says - Code V has been selected but no Section 199A income has been entered on Statement A. 

The client has a loss.  The loss is listed.  When I manually enter the amount, the error does not go away.

Please help.

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12 Replies 12
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Level 15

It's waiting for a software update that is rumored to be scheduled for 2/12.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Level 15

Jinx πŸ˜ƒ

Former Chump... umm.... AllStar.
If a post answers your question, click on *Accept as solution* for future searches
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Level 15

We should see if Intuit can add a buzzer to hit like on a TV game show just to make this place more interesting.  

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Level 15

I don't believe the K-1/199A function is fully operational quite yet.

Former Chump... umm.... AllStar.
If a post answers your question, click on *Accept as solution* for future searches
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Level 2

I called them several times about this issue and nobody seems to care. First they told me it would be resolved by 5th, now by the 7th and final one is 12th. I am cancelling my contract with them. Time to switch to a new software. 

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Level 2

Box 17 code V has been selected but no selected 199A income has been entered on statement A. 

Thats the error, I have been on hold with the customer support team for the last half hour waiting my turn in line. 

Which software you going to switch too?

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Level 2

I think I will go with Drake

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Level 1

Would switching to drake even make a difference?  I mean, aren't the availability of these forms subject to irs release?

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Level 2

It’s proseries issue not an irs issue. I have already checked with drake. I am fully switching to drake yet though.

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Level 15

There is no such thing as a perfect software that has all of the forms updated promptly and has no bugs ------------------------- at least none that anybody here can afford anyway.

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Level 2

I got a hold of someone after an hour wait.

The solution is to scroll down about 2/3 of the page and fill out the section D1 Qualified Business Income Deduction - Statement A information and fill out the stmt information in detail over there; that clears out the error.

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Level 2

Thank you very much!

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