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Qbi deduction not calculating for K-1 input - I have calculated the deduction manually and it is not calculating in Lacerte for this taxpayer.

paige
Level 2

This taxpayer has QBI of 309616 - filing MFJ - taxable income $459806 before any QBI deduction.  They do not have a spec service business.  They had wages paid of 189535.  I have exported K-1 from lacerte to 1040 and checked line 17 info on the input and it is showing there.  I did put a zero in the SSB column and nothing in the Aggregate bus # column.

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IRonMaN
Level 15

You have found one of Intuit's worst kept secrets ------------ the QBI deduction is not fully functional yet.


Pot Stirrer Gold Medalist - Rio de Janeiro Games

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7 Replies 7
IRonMaN
Level 15

You have found one of Intuit's worst kept secrets ------------ the QBI deduction is not fully functional yet.


Pot Stirrer Gold Medalist - Rio de Janeiro Games

View solution in original post

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George4Tacks
Level 15
Daddy! Are we there yet?

ex-AllStar
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abctax55
Level 15
I'm hungry....
(I wanna be a member of the pot stirring club too)
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anthonyhearn
Level 1
The Section D is not populating
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George4Tacks
Level 15
Patience, Little Beaver

ex-AllStar
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abctax55
Level 15

Thanks Jeff, for handling the Lacerte question (# 1129 ? ) while I was out of the office :smiling_imp:

(I wanna be a member of the pot stirring club too)
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IRonMaN
Level 15
:+1::+1:

Pot Stirrer Gold Medalist - Rio de Janeiro Games
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