Folks:
Individual client's K-1 reports for Box 17 Code V a "Qualified Property" amount. Can anyone tell me where am I to record that amount?
Micah
Code V relates to stock options. The answer is long and complicated.
@msindc1 You could maybe even mention the flavour of K1 you are talking about Chocolate (1120S), Vanilla (1065) or Strawberry (1041).
As is, I think it might be Neopolitan.
Start here https://accountants.intuit.com/support/en-us/help-custom/L3lhLp09p
Oops, sorry. This is a chocolate K1 (i.e., from an 1120-S).
M.
Unfortunately, neither that link nor any other resource I have found on the Lacerte site explains how to enter Line 17 Code V qualified property info.
Hmmm. I thought it dealt with the qualified business income deduction?
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