Solved: How does an S corp report the required Qualified Business Income separately on K-1s for each trade or business (per IRS Form 1120S draft instructions)?

porter · ‎12-06-2019

While reviewing the Lacerte latest release for S corps, Sch K input for Section 199A doesn't provide for the required reporting of multiple trades or business.

The applicable page from the IRS instructions is attached.

abctax55 · ‎12-06-2019

The software is not yet fully functional...hopefully the update on 1/9/19 will handle this. Or not.

"Tax software is no substitute for a professional tax preparer"

View solution in original post

abctax55 · ‎12-06-2019

The software is not yet fully functional...hopefully the update on 1/9/19 will handle this. Or not.

"Tax software is no substitute for a professional tax preparer"

How does an S corp report the required Qualified Business Income separately on K-1s for each trade or business (per IRS Form 1120S draft instructions)?

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