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Other Schedule K (27)?

Forum|Forum|6 years ago
December 7, 2019
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Is the override for Section 199A QBI on Other Schedule K (27) items working correctly? I input a zero for the override but it is taking a negative number on page 1 (MA Corp Income Tax Deduction of $456) and allocating it to the shareholders. I also checked the box above it to exclude rental activities which it is.

Lacerte Tax

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Best answer by George4Tacks

GENERALLY, Lacerte sees a zero as a nothing, a blank, a non entry.

If you really want a 0, you gotta use -1. The rarely causes a problem, since there is seldom a place that really needs a -1.

Put -1 instead of zero and see if that gets you where you wanna be.

George4TacksAnswer

Level 15

GENERALLY, Lacerte sees a zero as a nothing, a blank, a non entry.

If you really want a 0, you gotta use -1. The rarely causes a problem, since there is seldom a place that really needs a -1.

Put -1 instead of zero and see if that gets you where you wanna be.

Answers are easy. Questions are hard!

Level 2

Yes, that did the trick. I should have thought of it. Thank you.