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I completed the S Corp Worksheet correctly yet ProSeries is NOT calculating QBI

Ephesians3-14
Level 7

I have completed the S Corp worksheet correctly, but the QBI calculations are NOT working at all. I have zero QBI on line 10 for Form 1040. Taxpayer makes $190,000 so they are qualified for the deduction. Is the program not calculating QBI in the most recent software update? All areas of the S Corp worksheet are filled in correctly (I've used ProSeries for 25 years)>

 

Anyone else experiencing this with S Corp clients? (It looks like QBI is working for Schedule C clients)

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RollTide68
Level 8

I posted about this last week.  Experiencing the same issue trying to do my own 1120S and K-1.  Importing the K-1 to my personal return and nothing in Section 199A information amount on line 17 code "V"

Last year it took them a while to get it working correctly if I remember right.  Not sure how long it will take them this year.

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7 Replies 7
IRonMaN
Level 15

Did you input the information from a K-1 or did you import the K-1?

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)
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Ephesians3-14
Level 7

I tried both ways. It's broke. Working for you?

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IRonMaN
Level 15

I haven't tried it yet, but I was hoping something just got messed up if you imported the data.  Sounds like it could be another long tax season 😞

ACME Taxes, Tatoos, Tires and Turtles (I've expanded my line of products to better serve you)
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RollTide68
Level 8

I posted about this last week.  Experiencing the same issue trying to do my own 1120S and K-1.  Importing the K-1 to my personal return and nothing in Section 199A information amount on line 17 code "V"

Last year it took them a while to get it working correctly if I remember right.  Not sure how long it will take them this year.

View solution in original post

garman22
Level 12
Level 12

This was marked as "solved". Does this mean you have it working? 

Ok, I am going to assume you are working directly from ProSeries Professional. The K-1 has changed. You must manually enter income/wages/UBIA further down the K-1. It is now in section D-1. Once you enter it there (assuming all other qualifications), your QBI will calculate. 

dsocpa
Level 4

Yes, still an issue.  Haven't tried with any schedule C clients.  There is also no code or entry point from box 17 for UBIA

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dsocpa
Level 4

It's not working.  The form 8995A is flagged as not ready to file.  The status as of now is a 2/20/2020 EF  ready date.  I guess the choices are 

1. Wait

2. Override

3. File paper

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