Level 3

Question

QBI not calculating on Schedule E's

Forum|Forum|6 years ago
March 19, 2020
33 replies
100 views

Did my update this morning for ProSeries Pro and the update changed all the Schedule E's to untitled and didn't calculate the QBI deduction. After being on the phone with ProSeries for 2 hours they gave me a work around to do the calculations and told me that an update will be done to correct this problem. Just wanted to give everyone a h

ProSeries Professional

This topic has been closed for replies.

K

kst843

Level 4

I have the same issue. I also have at least 5 returns that the system is showing changes to the QBI calculation as of todays update that have changed the return since it has been efiled. Amended returns then to correct the calculation?

Is this a ProSeries calculation or an IRS calculation change?

R

RaymayAuthor

Level 3

It's a ProSeries problem. No need to amend returns efiled if they were efiled with the correct QBI calculations. I was promised that it will be fixed with an update. I will be looking for new tax software for 2020. Completely disappointed with Intuit and the incompetent people that try to assist you. The person I spoke with didn't even know what QBI was.

IntuitAustin

Level 10

Hey everyone,

I will share this feedback with the support team. The workaround for this issue is to:

Enter the trade or business name in order to get the QBI Related income to flow to the Component worksheet and the 8995. IRS instructions for 8995/8995A say to use taxpayer name or SMLLC name.

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Accept as solution"

A

aguffre

Level 3

I printed out a return yesterday, they came to sign it today & when I went to e-file I noticed that everything was different! Haven't e-filed it yet. ProSeries said they would correct this with an update? I need to know how long I need to hold this return before attempting to e-file again. Or do we need to do a manual override, print & mail?

K

kst843

Level 4

I spoke to Proseries late afternoon yesterday. I was told it was my issue not Proseries and that no one else had the issue, disappointed in them this year. The work around is to remove the link and rename them to the Sch E name. That does take the return back to the original amounts. I did ask if this was going to be addressed in another update since I do believe it was caused by their 3/19 update. No simple answers for this year!

The_AntiTax_Man

Level 7

Thank you for the heads up @Raymay .

Why are you not alerting all PS19 users to this problem @IntuitAustin ? AND when will this be solved?

The most valuable thing a software program can have is reliability.

The_AntiTax_Man

Level 7

@KLC is this your issue?

@KLC

K

KLC

Level 3

Yes, it is my issue. Very disappointed too. As was stated earlier, we rely on this software and pay a lot of money. At least let us know that you are trying to fix it. I so appreciate all your responses. It was very helpful.

K

KLC

Level 3

Thank you. I was able to fix it.

H

HBSJMKS

Level 3

I don't have time to fix all of these Sch E and Form 8995 problems. Such a waste of time since it was working and an update from ProSeries broke it. VERY upset with ProSeries this year. One problem after another. PLEASE get an update to fix this problem asap. I figured out how to correct it, but it's time consuming and I don't know how to check every client.

C

COCPA

Level 3

HBSJMKS would you mind sharing how you are fixing it?

H

HBSJMKS

Level 3

I learned the fix by reading an earlier post - I removed all QBI Component worksheets (which were no longer named but called untitled). Then I went to the Sch E worksheet for each rental. Go to the lower section "QBI Deduction Smart Wksht" and in part A type the name of the property as it appears in the top section of the E Wksht under property description. Hit the QuickZoom and a new QBI Component wksht will be available to re-link. I did this for each rental property. The Form 8995 came back with correct figures. Good luck! This worked for me but it was time consuming which is frustrating!

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