Qualified Business Income Dedcution

john-jbacpa · ‎12-06-2019

How to enter QBID on Lacerte tax

George4Tacks · ‎12-06-2019

It will be generated from input in Sch C, E and F and the K-1 input. Use Ctrl + F to Search for 199 or Search for Qualified The program is not totally functional yet, so just try to get one specific you are looking for and post a comment below.

e.g. Schedule C - Toward the Bottom is Deduction for Qualified Business Income - You will manually need to compute and input 4 entries there to get the computation. Hopefully this will improve in the next release.

EDIT: By the time you see this my description is too old to be of great value. Go to https://proconnect.intuit.com/community/help-articles/help/lacerte-simplified-worksheet-section-199a... for what is HOPEFULLY the latest information.

Answers are easy. Questions are hard!

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JMH617 · ‎12-06-2019

The 4 manual inputs are which fields? Thank you,

itonewbie · ‎12-06-2019

There have since been changed to the input and output. See https://accountants-community.intuit.com/articles/1785802&src=51247

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Still an AllStar

JMH617 · ‎12-06-2019

Hi, Yes, I have seen numerous replies with that link indicated. In clicking into the Schedule C section in the article, it highlights in red the field "IRC Section 162 Trade of Business: 1-Yes, 2=No[0]". This field does not appear in my updated Lacerte program under Schdule C, Other Information.

George4Tacks · ‎12-06-2019

@Kathi_at_Intuit could you get someone to update the Other Information screen shown in https://accountants-community.intuit.com/articles/1785802&src=51247

Answers are easy. Questions are hard!

Kathi_at_Intuit · ‎12-06-2019

@George4Tacks thank you for helping to keep our knowledge bases up-to-date! I have asked for this to be updated.

JMH617 · ‎12-06-2019

Thank you both kindly.