Re: 199A special allocation for QBI

denise · ‎03-09-2019

When a partner gets a special allocation for Sec 754 depreciation it shows on the K1 on line 13 as Other Deduction with a supplemental statement attached to describe it. It is not showing on the 199A Supplement to line 20 of the K1 as part of the QBI, Code Z amount. How do I get it to be included as part of the QBI?

IntuitKatieB · ‎03-12-2019

Hi Denise! Thank you for posting on our community.

ProSeries does not include Section 754 assets in the UBIA calculation. In the cases where this needs to be included, you will need to use the adjustment field.

denise · ‎03-12-2019

Can you pleas tell me where to find the adjustment field you refer to in your answer.

Kathi_at_Intuit · ‎03-12-2019

This adjustment would be done on the 199A Summary Worksheet, and then from there you would be able to allocate if necessary.

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kathycpa · ‎03-09-2020

I know its late and all but how do I find the Statement A -QBI Pass through Entity Reporting? Thanks!

kathycpa · ‎03-09-2020

I meant Worksheet.

denise · ‎03-10-2020

I will share with you how I did it. It was not from the 199A Summary Worksheet,I could not find that either??? Here is what I did on a 1065: press F6, on the list choose 199A Stmt A Sum( it is listed under Form 1065 p.4-5). I used the Other deductions line and clicked to a supporting stmt and entered in the description Sec 754 depreciation and the amount. I also entered the amount on Form 1065, pg 4 line 13d(C) Section 754 depreciation I used code W-Other deduction and used the SA(special allocation) column to allocated it to the specific partner.