K-1 Line 17 Code V error

Forum|Forum|6 years ago
February 6, 2020
7 replies
23 views

Error "K-1 Wks-S Corporations: Box 17 Code V has been selected but no Section 199A income has been entered on Statement A"

The QuickZoom to enter Code V Section 199A information does not take you to statement A input. When is this going to be corrected?

ProSeries Professional

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E

Ephesians3-14

Level 7

Intuit is totally dragging their feet on this issue. Several weeks into the tax season and they STILL haven't resolved it. I talked to my other colleagues who use Drake and Tax Slayer - both of those programs are up and running with QBI, and no problems. What have the ProSeries programmers been doing the past 10 months?

M

MDAROSA1

Level 5

It also appears after i get by this error, I get another error that this software release does not support s corps k1 with section 179. It states wait for a future release

M

MDAROSA1

Level 5

Have received a fix for this yet?

K

kimh

Level 2

I am having the same issue. I am updating twice a day, as I have a line of clients waiting on returns. Do we know if it will correct returns that have already been entered when the update does finally come?

H

House

Level 4

Same issue here. No Code V Statement A area to input info.

D

Donna1Author

Level 4

When I originally posted this question, I found a post from another preparer. I wish I could remember who it was to give the credit. The suggestion was to scroll all the way down the K-1 input. Towards the bottom is where you can enter the information. The problem is the link. It does not take you there. I was able to get rid of the error message. I do hesitate to finalize the tax return until it is fixed as I worry there are other issues that I may not be aware of. It is very frustrating to have multiple returns that I could finish but am afraid to do so.

M

marinholn

Level 2

This is what I found last week.....but is not working now....anyone can take it from here???

....I think I may have found a fix for this error. I switched to forms view, went to Statement A for the K-1 and entered the TT-calculated UBIA into the UBIA field on the Statement. I ran the error check again and it cleared. For some reason the program must not be pulling the UBIA into the Statement for the K-1. I'm crossing my fingers this works.