Qualified Business Income Dedcution

[john-jbacpa]

How to enter QBID on Lacerte tax

[George4Tacks · Accepted solution]

It will be generated from input in Sch C, E and F and the K-1 input. Use Ctrl + F to Search for 199 or Search for Qualified   The program is not totally functional yet, so just try to get one specific you are looking for and post a comment below. 

e.g. Schedule C - Toward the Bottom is Deduction for Qualified Business Income - You will manually need to compute and input 4 entries there to get the computation. Hopefully this will improve in the next release.

EDIT: By the time you see this my description is too old to be of great value. Go to https://proconnect.intuit.com/community/help-articles/help/lacerte-simplified-worksheet-section-199a... for what is HOPEFULLY the latest information.

[JMH617]

The 4 manual inputs are which fields?  Thank you,

[itonewbie]

There have since been changed to the input and output.  See https://accountants-community.intuit.com/articles/1785802&src=51247

[JMH617]

Hi, Yes, I have seen numerous replies with that link indicated. In clicking into the Schedule C section in the article, it highlights in red the field "IRC Section 162 Trade of Business: 1-Yes, 2=No[0]".  This field does not appear in my updated Lacerte program under Schdule C, Other Information.

[George4Tacks]

@Kathi_at_Intuit could you get someone to update the Other Information screen shown in https://accountants-community.intuit.com/articles/1785802&src=51247

[Kathi_at_Intuit]

@George4Tacks thank you for helping to keep our knowledge bases up-to-date! I have asked for this to be updated.

[JMH617]

Thank you both kindly.