There appears to be an error in the QBI calculation as it relates to vehicles w/input for actual expenses, listed as UBIA, but not being included in the calc. please call

[jon-a]

(NOTE:  This issue has been submitted to Technical Support)

Client has a Schedule C with over $100K of net income and QBI.  NO wages in the Schedule C.

Overall, the client has about $700K of taxable income, but no other QBI related income.  Thus due to no wages, the client should get 2.5% of UBIA.

Client has only ONE asset.  A vehicle, used greater than 50%, and utilizing the actual expense method, so taxpayer is getting some depreciation.  The UBIA of this one asset is being calculated properly AND has a worksheet indicating that the asset does qualify as an asset for UBIA.

The problem is that the QBI calculation does NOT include this in calculating the deduction.  After analyzing, we determined that if there were NO "actual expenses" input (in the depreciation input area - ie for gas, repairs, etc) then the program does pick up the qualified asset for the calculation.  But put in $1 dollar for any expense, the program does NOT included UBIA for the calculation, even thought it still indicates that the asset IS a qualified asset for UBIA!

We believe there is a programming error, but please let us know either way.  We are also happy to provide the client copy to Lacerte for their review.

[abctax55 · Accepted solution]

This is NOT Intuit/Lacerte support.  You will need to contact them directly to report the possible defect.

This is a peer-to-peer forum of fellow users of the software.

I believe Ctrl L starts a report directly to Lacerte concerning a perceived programming error.

I haven't seen this one reported yet, and haven't run across the scenario you describe on a client (yet).

[sjrcpa]

@abctax55  Couldn't stay away? Welcome back.

[abctax55]

TYVM....I figured two weeks off was enough.
Especially since no one noticed, especially the mods.
I don't want to jeopardize my standing and that FREE software they give me

[IRonMaN]

The problem is, once you get addicted to this place, walking away is like trying to kick a meth habit.  Easier said than done :smile:

[itonewbie]

Good to have you back, @abctax55!

[abctax55]

TYVM....I passed Tilt a while ago for #3 on the all-time hit parade.  I'm chasing the esteemed "Archie aka Chuck aka CAGMC" so I figured I better saddle back up.

[IRonMaN]

Only 1,032 to go for the tie :smile:

[abctax55]

   Makes me sad in many ways.  RIP:cry:

[IRonMaN]

To be honest, I seriously thought about retiring from this place when we lost Chuck.  It just didn't seem the same and it still doesn't seem the same without him here.  I still do get a smile though when someone resurrects an old post that he participated in.  And until I the day I die, seeing CAGMC will always bring a smile to my face :smile:

[abctax55]

Yep - he was unique.  I'm sorry I never got to meet him face-to-face.  I know @tilt53 still misses him terribly, and I get the Caring Bridge updates about Elizabeth.  She's still struggling, but what a strong-willed person.

[abctax55]

Jon...sorry to have hijacked your serious post. I see you edited, and have reported the problem to the PTB.  Thanks!

[jon-a]

No problem... I appreciate the guidance on reporting directly to Lacerte:  Control "L" was correct! 🙂

[abctax55]

Thank @George4Tacks for that, I think that's who has pointed it out.
Keep us posted on the outcome, 'kay?

[jon-a]

Will do... 🙂