Welcome back! Ask questions, get answers, and join our large community of tax professionals.
- Topics
- Training
- Community
- Product Help
- Industry Discussions
- User Groups
- Discover
- Resources
Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
- Intuit Accountants Community
- :
- ProSeries Tax
- :
- ProSeries Tax Discussions
- :
- QBI calculation
QBI calculation
Options
- Mark Topic as New
- Mark Topic as Read
- Float this Topic for Current User
- Bookmark
- Subscribe
- Printer Friendly Page
Chazbo69
Level 1
07-08-2020
01:35 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Proseries Basic question, client has K1 income and I put in Supplemental Expenses to offset some of the income, overall still taxable income. When looking at the QBI worksheet, it is only showing the expenses and not the true net income. 1040 shows net income & so does Page 2 of Schedule E, but not the QBI calc. I'm worried if I override it, I won't be able to efile. Any help would be appreciated. Thanks in advance.
Labels
This discussion has been locked.
No new contributions can be made. You may start a new discussion
here
2 Comments 2
TaxGuyBill
Level 15
07-08-2020
04:17 PM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
@Chazbo69 wrote:When looking at the QBI worksheet, it is only showing the expenses and not the true net income.
So you are saying it doesn't show anything from the K-1? If so, check that you properly added the QBI information into the program (based on Box 20, Code "Z" of the Partnership K-1).
Chazbo69
Level 1
07-09-2020
09:30 AM
- Mark as New
- Bookmark
- Subscribe
- Permalink
- Report Inappropriate Content
Thank you TaxGuyBill, that was the solution! I really appreciate your assistance.
