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Where do I find Statement A? This came up as I was completing the K1 form.

Forum|Forum|5 years ago
April 21, 2020
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TurboTax Self Employed Online

Best answer by Anonymous_

"Where do I find Statement A?"

That would be qualified business income (QBI) pass-through reporting (Section 199A).

Basically, you should have received a supplemental statement along with your K-1 (or some sort of instructions) to guide you on how to report the figure on your K-1 on your personal income tax return.

If you did not receive any such statement or instructions, you should contact the responsible party (i.e., the party who is responsible for preparing the entity's income tax return).

A

Anonymous_Answer

"Where do I find Statement A?"

That would be qualified business income (QBI) pass-through reporting (Section 199A).

Basically, you should have received a supplemental statement along with your K-1 (or some sort of instructions) to guide you on how to report the figure on your K-1 on your personal income tax return.

If you did not receive any such statement or instructions, you should contact the responsible party (i.e., the party who is responsible for preparing the entity's income tax return).

A

asdfl76

No such statement was received. The issuing company says "this is an old bug in turbotax and only shows up in turbotax."

What now?

A

Anonymous_

The issuing company uses TurboTax?

There is not much you can do if the company will not issue the statement.

H

Housestreet

grateful for this detailed answer as to statement a and returning to the walk thru of k-1; I would have never figured it out. Thank you

K

KF813

What I found out last year was that all the K1s I had diligently entered did not actually get calculated into my tax return. Per Turbotax, ONLY DESKTOP is even set up to incorporate K1 entered info. Also, even if you're using Desktop, it's really not good at carrying over the information properly to your next year's return. After many years of TT, I had someone do my taxes last year.

Also, the TT option to have them do full service was twice as expensive as a regular tax acountant, and TT will not review previous tax returns. Even the TT rep suggested not using them. K1s are too complex.