How does an S corp report the required Qualified Business Income separately on K-1s for each trade or business (per IRS Form 1120S draft instructions)?
How does an S corp report the required Qualified Business Income separately on K-1s for each trade or business (per IRS Form 1120S draft instructions)?
While reviewing the Lacerte latest release for S corps, Sch
K input for Section 199A doesn't provide for the required reporting of multiple
trades or business.
The applicable page from the IRS instructions is attached.
The software is not yet fully functional...hopefully the update on 1/9/19 will handle this. Or not.
HumanKind... Be Both
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