What are the mechanics of getting the QBI deduction to compute for income from an S-corp? Schedule C & E are no problem but S-corp income is not computing.

Forum|Forum|6 years ago
December 7, 2019
5 replies
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ProSeries Professional

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Best answer by abctax55

1,247,015

Patience?

https://accountants-community.intuit.com/search?utf8=%E2%9C%93&q=qbi+not+computing&button=

Just-Lisa-Now-

Intuit Community Champion

The software isn't updated to accommodate the K-1 QBI calculations...maybe in a week or so (I don't think they've announced a date yet)? Be sure to update every week!

♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

C

cjgerberAuthor

Level 2

Thanks, I assumed I was doing something wrong!

abctax55

Level 15

Watch the ass-u-me stuff

HumanKind... Be Both

abctax55Answer

Level 15

1,247,015

Patience?

https://accountants-community.intuit.com/search?utf8=%E2%9C%93&q=qbi+not+computing&button=

HumanKind... Be Both

M

Marc-TaxMan

Level 7

I know it's complicated but this is beyond belief. Jan 10 update did not fix this issue. 1040 K1-S and K1-P do not seem to work. Good news: The State Tax Refund check box has been fixed!

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