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In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
In anticipation of the upcoming Exempt Org and Texas Franchise deadlines (5/15), we've compiled a list of the most common questions here.
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199A REIT Dividends
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ghaber
Level 3
03-04-2020
05:09 PM
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Case Number: [social security number removed]
I have never heard back from Intuit (as usual). The program does not allocate the distributable share of the beneficary's portion of the 199A REIT dividends on the Schedule K-1 of Form 1041. I was told today that this obvious ERROR by the Intuit eengineers will NOT be corrected. Why not and why doesn't Intuit announce these failures to the preparers who have to struggle in the dark, often reduced to speaking to untutored individuals who are not trained to answer difficult questions because Intuit refuses to have a deducated phone line for professional tax preparers?
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3 Comments 3
RollTide68
Level 8
03-04-2020
05:12 PM
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True, if enough walk away they may get the picture one day. My guess Intuit would be more than happy to let ProSeries go the way of the dodo
tcallow
Level 1
03-10-2020
09:09 AM
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Try uninstalling and reinstalling the program
I spent about 4-1/2 hours on the phone with tech support last week, at the end of which they indicated there was an investigation on the issue started February 26th, but there was no fix and no workaround. Then, someone in myoffice whose workstation copy had been installed later told me the 1041 program on her computer was working fine on this issue. I looked at the client file on my computer, and it still was not working. I uninstalled and reinstalled my workstation copy of the entire program and now the 1041 program is handling the REIT dividends on the K-1s just fine.
I would call tech support and tell them this but I can't afford the hour of on-hold time it would take to get through to someone.
Johnl777
Level 3
04-09-2021
05:00 PM
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Just ran into same issue: REIT divs on interest and dividend worksheet total Sec 199A divs are not transferred to the QBI summary worksheet, Form 1041, line 9. So I just did an override to force the amount on the QBI worksheet, then it flowed to the Form 8995 and the K-1's as it should have. I hesitate to uninstall and install the program as another commented... may mess up everything. I think the override is a quick fix, and hopefully won't affect e-filing the return. I update the products daily, and do not see any fix for it.
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