Is QBI not converting?

[itonewbie · Accepted solution]

If you are looking for just YOY comparison, QBID does get proforma'ed.  It will come through to Other > Prior Year Summary > Federal Prior Year Summary > Tax Computation > Qualified business income deduction and appear in the YOY comparison.

If you are talking about carryover of losses from qualified businesses, I haven't checked but would presume that these would be included in the proforma.  In any case, we're still in the early days.

[itonewbie]

@bulldogcpa Giving a no vote will not help you.  If this is not what you're looking for, you may like to clarify what it is instead.  It was you who said you were looking for the YOY comparison.

[abctax55]

:+1:

[itonewbie]

QBI does not convert to anything under §199A.  What exactly are you referring to?

If you believe QBID is not being computed correctly, please provide more specifics so that someone may be able to help.

[bulldogcpa]

Converting 2018 to 2019 -- the QBI is not carried forward to the Two-Year Comparison report.

[bulldogcpa]

Sorry QBID is not carried forward in the convert to the Two-Year Comparison report.  

[Just-Lisa-Now-]

I wouldn't transfer client files into 2019 until after the first of the year, mid/late January is even better....there are always weird transfer issues with the first several releases.

[bulldogcpa]

I understand.  I always convert my personal return first, since I know how it should look and to get a feel fro the new software.  I like the Two-Year Comparison report.  Shame it isn't pulling the data forward correctly.  

[George4Tacks]

@IntuitBettyJo can report it to PTO for correction.

[itonewbie]

@George4Tacks But it seems to be pulling the correct QBID into the two-year comparison though

[itonewbie]

I take that back. Just took a second look and it does seem like the QBID doesn't tally. @IntuitBettyJo

[IntuitBettyJo]

Thanks! @itonewbie and @George4Tacks, I'll look into this and update you accordingly.
-Betty Jo

[bulldogcpa]

My comment was specific to the Two-Year Comparison Report.  The prior year's QBID did not transfer forward and the columnar computation is not correct in the prior year's AGI - QBID = Taxable.