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Partnership owns real property under NNN lease. Does not qualify for QBI. Where do you indicate in the program not to calculate the QBID?

sterlingcpa
Level 1
 
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sjrcpa
Level 15

I think Lacerte's default for rental property is that it does not qualify for the deduction.

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sjrcpa
Level 15

I think Lacerte's default for rental property is that it does not qualify for the deduction.

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George4Tacks
Level 15
@sjrcpa I just used DemoData 01SAMPLE with today's update. It adds lines 1 and 2 to get 20Z. I can't seem to find a magic button to make it NOT 199A. The 1040 has one to make it 199A. I think S-Corp works the same way, but have not tested it yet.
Forms are not yet final yet. Maybe @Ashley at Intuit (aka Henry Jr) can get some input from the Lacerte know it alls.  

Here's wishing you many Happy Returns
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sjrcpa
Level 15
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abctax55
Level 15

That's what their notice said; but I *think* I heard that PS is making the opposite assumption.

I haven't had a chance to see what today's update is doing/not doing..


#StandWithUkraine
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sjrcpa
Level 15
Neither have I
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abctax55
Level 15
Maybe this weekend?

#StandWithUkraine
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sjrcpa
Level 15
I'm doing fun nontax stuff this weekend
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