Question

k1 QBI loss

Forum|Forum|2 years ago
April 2, 2024
1 reply
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running the review and the software found an error it says i need to correct. it says QBI passive loss needs to be entered (see pic) but not sure what number it wants (from box 2 of K-1), or something else. it does not give me a clue as to where when i was originally entering data that i missed the entry. i hope this makes sense.

Help

jim

PatriciaV

Did you have Box 20 Code Z on this Schedule K-1? If so, did you complete the entire interview for the K-1, including the questions about Section 199A? If not, you should revisit the K-1 topic and work through the interview to enter the information from Statement A that came with your K-1.

For the SmartCheck error, you would need to scroll down in the sub-form until you see a red box that needs your entry. If this isn't coming from a missed QBI entry for this year, the program may be looking for a QBI carryover from last year.

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P

perdochAuthor

Thanks, there were no red boxes to identify what I missed. I actually got a call from a TurboTax rep and was on with her for over an hour. She couldn’t find anything I did wrong out missed. Besides that, whenever I entered something in the box (0, my current QBI loss, etc) the error came back again looking for input. Finally she spoke with some experts who ran into this problem before, and she had me delete one of the schedules and reenter my current qbi passive loss into the open dialogue box. The error cleared. Still not sure what I did was right.