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last updated ‎February 21, 2020 6:12 AM

qbi deduction those expenses not supported

 

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8 Replies 8
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Level 15
Level 15
last updated ‎February 21, 2020 6:12 AM

what now?  what expenses?


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Level 2
last updated ‎February 21, 2020 6:12 AM

The QBI calculation won't complete because of a section 179 deduction flow through on an S Corporation K-1. Message keeps saying it will be addressed in later release. Like when??

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Level 11
Level 11
last updated ‎February 21, 2020 6:12 AM

Sec 179, you mean?

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Level 2
last updated ‎February 21, 2020 6:12 AM

Section 179 is accelerated depreciation. It appears on line 11 of Subchapter S receipient's 'K-1' form. If you have income on line 1 and deduction on line 11 of the 'K-1", the QBI worksheet won't complete the calculation. A note appears indicating the calculation will be addressed in a later release. The note has been there for more than 3 weeks.

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Level 5
last updated ‎February 21, 2020 6:12 AM

Same here. Just got a 1065 update and nothing changed. Still error states that it will be in s subsequent release. But when.

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Level 11
Level 11
last updated ‎February 21, 2020 6:12 AM

@RJGCPA wrote:

Section 179 is accelerated depreciation. It appears on line 11 of Subchapter S receipient's 'K-1' form. If you have income on line 1 and deduction on line 11 of the 'K-1", the QBI worksheet won't complete the calculation. A note appears indicating the calculation will be addressed in a later release. The note has been there for more than 3 weeks.


Your earlier response came in prior to me writing my Sec 179 question. I understand Sec 179. But the original question was vague....I was ascertaining what exactly was in question. 

I  have sent a sanitized file in and they know there is an issue but there is no date that I know of as to when it will be fixed. 

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last updated ‎February 21, 2020 6:12 AM

I have called in twice already on this issue.  Originally told it would be update on 2-20-2020 when form 8995-A was finalized.  When this update did not correct, I called them again.  I was told yesterday that they were sending another update down overnight that would correct.  Again, update did not correct issue.  ProSerie lies - just tells you an update is coming to get you off of the phone.  It is no wonder that everytime I call there is a high volume of calls, they are NOT correcting issues.  I hope you can get it corrected, I would like to e-file ASAP.

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Level 11
Level 11
last updated ‎February 21, 2020 6:12 AM

@trexlerwatson wrote:

I have called in twice already on this issue.  Originally told it would be update on 2-20-2020 when form 8995-A was finalized.  When this update did not correct, I called them again.  I was told yesterday that they were sending another update down overnight that would correct.  Again, update did not correct issue.  ProSerie lies - just tells you an update is coming to get you off of the phone.  It is no wonder that everytime I call there is a high volume of calls, they are NOT correcting issues.  I hope you can get it corrected, I would like to e-file ASAP.


as would I. 

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