QBI worksheet not using correct phase-in range?

[jesusbowls]

OBBBA increased the phase-in range for QBI from $100K to $150K for MFJ ($50K to $75K for single).  However, the QBI Component Worksheet (line 5) is still using $100K as the phase-in range.

Intuit, please investigate and fix if I am correct.

Thanks!

[Kathi_at_Intuit]

Hi @jesusbowls Thanks for posting in the Community about the Phase Out amount. We'd recommend contacting ProSeries Support this way they would be able to remote in and take a look with you and report it if need be. 

[jesusbowls]

Thank you, Kathi.

There's no need for Intuit to remote in.  The worksheet is listing what I believe to be the wrong phase-in range amount.  It's POSSIBLE that the new phase-in range doesn't take effect until tax year 2026, but based on my reading, it's applicable for 2025 as well.

https://www.barnesdennig.com/obbba-impacts-qbi/

[TaxGuyBill]

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@jesusbowls wrote:

It's POSSIBLE that the new phase-in range doesn't take effect until tax year 2026, but based on my reading, it's applicable for 2025 as well.

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It doesn't start until 2026.

Section 70105 of the Act extends the deduction and changes the phaseout, but it also says "EFFECTIVE DATE.—The amendments made by this section shall apply to taxable years beginning after December 31, 2025."

See also line 23 of Form 8995-A.

https://www.irs.gov/pub/irs-pdf/f8995a.pdf

[jesusbowls]

Hi Bill, thank you very much for this information and for setting me straight on my misunderstanding.