Partnership owns real property under NNN lease. Does not qualify for QBI. Where do you indicate in the program not to calculate the QBID?

Forum|Forum|6 years ago
December 7, 2019
2 replies
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Lacerte Tax

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Best answer by sjrcpa

I think Lacerte's default for rental property is that it does not qualify for the deduction.

sjrcpaAnswer

Level 15

I think Lacerte's default for rental property is that it does not qualify for the deduction.

The more I know the more I don’t know.

George4Tacks

Level 15

@sjrcpa I just used DemoData 01SAMPLE with today's update. It adds lines 1 and 2 to get 20Z. I can't seem to find a magic button to make it NOT 199A. The 1040 has one to make it 199A. I think S-Corp works the same way, but have not tested it yet.
Forms are not yet final yet. Maybe @Ashley at Intuit (aka Henry Jr) can get some input from the Lacerte know it alls.

Answers are easy. Questions are hard!

abctax55

Level 15

That's what their notice said; but I *think* I heard that PS is making the opposite assumption.

I haven't had a chance to see what today's update is doing/not doing..

HumanKind... Be Both

sjrcpa

Level 15

Neither have I

The more I know the more I don’t know.

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