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QBI

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Level 2

QBI - can I adjust the calculated amount?  I need to include the BUSINESS INTERST EXPENSE from shareholder and also SE Health Insurance.  The instructions for Form 8995 list both these.

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Level 15

Did you say "shareholder"?  So, this is an s-corp but §163(j) is not deducted at the shareholder level, which means there's nothing to allocate on F.8995-A.  If this were a partnership, however, there does seem to be a problem because §163(j) interest allowed flows through from F.8990 to Sch E page 2 but it stops there instead of flowing to F.8995-A.

There also seems to be a problem with SEHI for 2% shareholder flowing to F.8995-A.  You would normally expect that to flow by checking the box for Reduce QBI by self-employed health insurance but it doesn't.

@IntuitAustinCould you please take a look at why these items are not flowing in Lacerte/PTO and give us an update?  Thanks!

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Still an AllStar

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Highlighted
Level 15

Did you say "shareholder"?  So, this is an s-corp but §163(j) is not deducted at the shareholder level, which means there's nothing to allocate on F.8995-A.  If this were a partnership, however, there does seem to be a problem because §163(j) interest allowed flows through from F.8990 to Sch E page 2 but it stops there instead of flowing to F.8995-A.

There also seems to be a problem with SEHI for 2% shareholder flowing to F.8995-A.  You would normally expect that to flow by checking the box for Reduce QBI by self-employed health insurance but it doesn't.

@IntuitAustinCould you please take a look at why these items are not flowing in Lacerte/PTO and give us an update?  Thanks!

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Still an AllStar

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Level 15

Omitted to add that I can't find any input for manual adjustment on F.8995/-A either.

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Still an AllStar
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Level 15

@IntuitAustin @IntuitBettyJo  Could either of you please give us an update?  We have another question about the same issue.  Thanks!

https://proconnect.intuit.com/community/lacerte-discussions/discussion/qbi-se-insurance/01/82383/hig...

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Still an AllStar