Calculation of QBI on tax return. I cannot get the ProSeries Basic to generate worksheet for QBI deduction. Any help here? I am inputing a K1 from S corp.

[Anglis]

I have entered the S Corp K1 and the Proseries Basic is not generating the worksheet for QBI. Any help would be appreciated. I calculated the info using IRS worksheet and over ride the entry in program. I dont like to override, but there seems to be an issue.

Any one else having this problem? Taxpayer is under the $157,000 threshold.

[garman22 · Accepted solution]

Are you heading down to bottom of K-1 and answering questions relating to QBI?

[TaxGuyBill]

And have you verified that that K-1 shows the proper codes in Box 17 about QBI (codes "V" through "Z")?

[Anglis]

Yes sir the codes are on the K1 showing 199A income and wages paid. The return worksheet is showing the K1 income but not generating the calculation. And the income is <$157,500, so she should be entitled to deduction. I have calculated by hand using the IRS worksheet and have overridden the return where that needs to be. I have tried to call support but they have me on hold > 1 hr.

[garman22]

Assuming she has TI and she meets all qualifications, QBI should calculate once you answer all relevant questions in Section D of the K-1 which is near the bottom. I would screenshot but I dont know how.

[jcoram22]

I was having the same issue.  On the Sch K-1 worksheet, whatever your income on line 1 of the K1 is, you also have to enter that same amount on line 17 with a code of V.  Then make sure you answer the questions in section D.  That worked for me.