Welcome back! Ask questions, get answers, and join our large community of tax professionals.
cancel
Showing results for 
Search instead for 
Did you mean: 

After import K-1 (Box 17) -

preda-taxes
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.

This discussion has been locked. No new contributions can be made. You may start a new discussion here

12 Comments 12
IRonMaN
Level 15

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


Slava Ukraini!
abctax55
Level 15

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

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
abctax55
Level 15

Jinx 😃

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"
IRonMaN
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.  


Slava Ukraini!
etaxchicago
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. 

TaxstitchLLC
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?

etaxchicago
Level 2

I think I will go with Drake

0 Cheers
EAintheVI
Level 2

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

0 Cheers
etaxchicago
Level 2

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

0 Cheers
IRonMaN
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.


Slava Ukraini!
0 Cheers
TaxstitchLLC
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.

etaxchicago
Level 2

Thank you very much!

0 Cheers