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Is the199A complex worksheet et.al working for Partnerships,
and S-Corps?
I have spent hours in the
software, and online following instructions, but it is not calculating and/or
pulling through to the QBI Deduction Summary, or the 1040. The only schedule that pulls through is the
Schedule C.
There are community responses indicating that it is NOT working, and there
are responses that say, "follow the instructions and it will work.”
Intuit, kindly give us a nice clean answer so we can either stop banging our heads against the software or educate ourselves more thoroughly.
Best Answer Click here
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"There are community responses indicating that it is NOT working, and there are responses that say, "follow the instructions and it will work.” "
Maybe you're misunderstanding what those posts are asking about.
Do Business returns that issue K-1s now include the QBI information on the K-1s? YES
Is the 1040 ready to accommodate those K-1s and compute the QBI? NO
Sch C, E and F all work, just none of the K-1 computations, yet.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Slava Ukraini!
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The K-1 QBI issue is/was 2 different issues, so I'm sure some posts abut it were saying "just follow the instructions and it works" was probably referring to the K-1 including the info...the ones that say it doesn't work, were referring to the 1040 being able to compute QBI from a K-1.
Some questions concerning K-1s and QBI might not have explained exactly what they were asking well enough and were interpreted differently by those that commented and answered, leading to confusion as to what is correct.
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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Answers are easy. Questions are hard!
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"Is the199A complex worksheet et.al working for Partnerships, and S-Corps?"
No.
That's as clean as I can get it without getting a jug of bleach out and scrubbing it.
Slava Ukraini!
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"....or educate ourselves more thoroughly."
I'd go that route, even when the software IS up & running. I'm not trusting the software this year nearly as much as I have in the past.
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Still an AllStar
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Answers are easy. Questions are hard!
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We are *all* just users of Intuit software, just like you. Except for the occasional employee/moderator that stops by, and they are so identified by their "handle".