Lacerte does not appear to be calculating QBI correctly in the Fiduciary module. Reg. 1.199A-3(c)(3)(ii) requires that PTP income/loss be included or allowed in determining taxable income for the taxable year before it is included in QBI. However, Lacerte is including ALL passive losses from PTPs in QBI and not limiting it to the portion included in taxable income for the year.
The Individual module, however, is limiting the PTP losses included in QBI to the portion deducted in determining taxable income. That is, the Individual module seems to be handling PTP losses correctly.
Why is the Fiduciary module computing differently than the Individual module?
My issue was with the individual module. I'm checking for updates every other day, still no luck. They did make the change to not reduce QBI by disallowed passive PTP losses, but now it isn't reducing QBI by allowed (final year) passive PTP losses. I am also holding returns for this. Irritated is a huge understatement. I paid Lacerte around $15000 last year, and me, as a small one person firm pointed this out. You'd think we'd get more responsive action.