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1120S K-1 section 199A income not populating in ProSeries 2019

RollTide68
Level 8

Anyone else having issues with 1120S K-1 and imported K-1s to 1040 not populating QBI, Allocable wage, and UBIA data?

Imported K-1 shows two errors.  1.  no amount on line 17 code V Section 199A income.  When I enter the appropriate amount that error goes away but the second error still shows but no other red boxes anywhere.

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6 Comments 6
Accountant-Man
Level 13

Since 2018 was the FIRST year of QBI et al, it took a while last year.

There's no reason for its problems to continue this year, but that's the usual way it works.

I am guessing that it is too early for there NOT to be issues with the software.

** I'm still a champion... of the world! Even without The Lounge.
Ephesians3-14
Level 8

Just be careful if you are using the software and advising clients about tax due/refund since QBI is not working. Caution!

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danthetaxman
Level 3

Today is 2/1/20.  Is it still not working?  I can't figure out where to put the 1120 K-1 Line 17 info yet. (Ordinary business income & W-2 wages)

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gary1861
Level 4

I have the same issue.  The program doesn't self-populate when I import the K-1's.  But with a 1065, when I click the QuickZoom link, another screen pops up where I can enter the information.  However, with a 1120-S k-1 the link takes me to another screen (K1S addl info 1), but there is no Code V section for box 17 in the program.  Is there any word on when the program will have such a section?  Is there a work around?

danthetaxman
Level 3

I just called ProSeries and they said not to click on the 17V Quickzoom. It is not working. However, if you scroll way down the page, you can enter the 17V information. 

gary1861
Level 4

Thank you for sacrificing the time to figure out this problem.  I had manually calculated the QBI and I was excited that after entering the information as they suggested, the program provided the same amount that I had calculated.  😀

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