Im having the same problem with my 1120 S File .
This occurs When inputting the K1's from a Partnership form and have taken and entered:
Ordinary Bus Income $89,
w2 wage $216
UBIA of $380.
Then on the ! - 199A Sum Wks Page it shows
UBIA highlighted in red of this $380 amount .
Error: 199A Sum Wks - UBIA - The Total Amount is Larger than the amount allocated to all Schedule K-1s. Review the K-1 Statement A to ensure that the combined K-1 Amounts for this item are increased by $380.
In addition to this problem, there is Nowhere to Enter this amount on the Intuit 1040 Form
K-1 for S Corps, the Quick Zoom (17V) Worksheet for QIB takes you somewhere to an Basis for Energy Property and there is No way to enter this information on the 1040.
I believe this is a new error that ProSeries needs to fix. If you go to the 199A Statement Summary, just copy the UBIA from there to the Shareholder K-1 manually. This used to be automatically calculated though. I hope they come out with a fix.
Evan, I too had trouble finding where to put the QBI info from a K-1 on the 1040. Normally, when you put the code from box 17 and usually you use the quickzoom. It's not there. So you if you just keep going down on the K-1 entry page, you'll see where to enter that info. Hope this helps!
Thank You. That helps. but im worried that if INUIT does not fix the problem on the 1120S K1 / 199A. Then this won't flow to the IRS and it might cause problems/flags later. Is there any other way to contact Intuit to fix this other than this message board ?
I tried calling but it was over an hour wait and then it disconnected me 35 min into the call.