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Level 1
December 7, 2019
Solved

How can i toggle one rental on for qbi and one off (in the s-corp program)

  • December 7, 2019
  • 2 replies
  • 11 views
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Best answer by George4Tacks

No toggle available. Maybe by the time 199A expires we will have it.

2 replies

George4Tacks
Level 15
December 7, 2019

No toggle available. Maybe by the time 199A expires we will have it.

Answers are easy. Questions are hard!
abctax55
Level 15
December 7, 2019
OK...that made me laugh :joy::joy:
HumanKind... Be Both
itonewbie
Level 15
December 7, 2019

Your only option is to override.

Beware that if you have §179 deduction on the return, Lacerte defaults to including that in QBI, thereby reducing the amount.  We believe this is incorrect and have been in discussion with Intuit over the last few weeks.  Unless you agree with Intuit's position, you'd want to check the box to override that default treatment.

---------------------------------------------------------------------------------Still an AllStar