That is the issue we are trying to bring to your attention that Lacerte is not calculating correctly. If the PTP loss is disallowed for regular tax purposes, the loss should NOT be included in QBI.
I am correcting my previous post. The 2019 program (trust return) is incorrectly including disallowed passive losses in QBI for BOTH PTP's and other partnerships. I had to manually calculate and ov...
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I am correcting my previous post. The 2019 program (trust return) is incorrectly including disallowed passive losses in QBI for BOTH PTP's and other partnerships. I had to manually calculate and override the QBI input for all the Schedule K-1's that had disallowed passive losses. What a pain!! This really needs to be resolved.......
I am currently working on a 2019 trust return in Lacerte. The program is correctly not including any passive losses disallowed from PTP's in QBI, but incorrectly including disallowed passive losses f...
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I am currently working on a 2019 trust return in Lacerte. The program is correctly not including any passive losses disallowed from PTP's in QBI, but incorrectly including disallowed passive losses from NON PTP partnerships in QBI. When do you expect this might be fixed in the program??
I am working on a 2019 trust return in Lacerte. The program is properly not including any disallowed passive losses from PTP's in QBI, but is incorrectly including disallowed losses from NON PTP pa...
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I am working on a 2019 trust return in Lacerte. The program is properly not including any disallowed passive losses from PTP's in QBI, but is incorrectly including disallowed losses from NON PTP partnerships in QBI.
I have a client that has a computer business that provide maintenance and support to the purchasers IT infrastructure. They claim there is no consulting involved. He describes it like a janitoral s...
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I have a client that has a computer business that provide maintenance and support to the purchasers IT infrastructure. They claim there is no consulting involved. He describes it like a janitoral service for computers. Trying to determine if this would qualify to NOT be a specified service business.