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C
cfaudel
Level 1
December 7, 2019
Solved

Deduction for Qualified Business Income

  • December 7, 2019
  • 1 reply
  • 10 views
Sch C: I've entered wages in the COGS section & the wage line in expenses. Also tried the Qualified Business income, Wages allocated & Unadjusted Basis of Property override fields. As soon as taxable income hits $157,500 for Single, it won't  calculate QBID, even if there are lots of wages & qualified assets. What are we missing?
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Best answer by abctax55

You are missing the up-coming update (Jan 9?) that will do the phase out computation (or, so we hope...)

https://accountants-community.intuit.com/articles/1785802&src=lsccom

1 reply

abctax55
abctax55Answer
Level 15
December 7, 2019

You are missing the up-coming update (Jan 9?) that will do the phase out computation (or, so we hope...)

https://accountants-community.intuit.com/articles/1785802&src=lsccom

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