Does an SEP contribution reduce QBI on a Sch C? If so, how do you link the two in Lacerte?

[garman22 · Accepted solution]

A SEP should reduce QBI based on the regs that were recently released. I dont know how you link the 2 in Lacerte. I am in PS.

[vf]

Thanks, that's how I interpreted the final regs. But, there doesn't seem to be a way to link them in Lacerte and no adjustment is being made for SE Tax or the SEP.

[garman22]

Interesting. Last I saw for PS, SE is adjusting, dont know re: health and retirement is not adjusting as of yet. I was lucky enough to play with UltraTax maybe a week ago and they had no adjustments. In their defense tho, the new regs were not out. PS and Lacerte should not be far behind (we hope!).