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    Where in the 2018 program do I identify partnership income as qualifying for the qualified business income deduction?

    eeyore
    Level 3
    ‎12-06-2019 05:32 PM
    I'm helping my client estimate his 2018 tax liability.  He is in a partnership and an S-Corporation, both of which are eligible for the qualified business income deduction.  Where in Lacerte do I provide the necessary information so it calculates the deduction?
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    George4Tacks
    Level 15
    ‎12-06-2019 05:33 PM

    I posted some pretty pictures at https://accountants-community.intuit.com/questions/1778778-the-next-release-date-is-12-12-2018-will-... for C, E and the 1065 K-1 

    P.S. The lion is getting blinder :wink:


    Here's wishing you many Happy Returns

    View solution in original post

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    7 Comments 7
    mojocpa
    Level 7
    ‎12-06-2019 05:32 PM
    @IntuitAlicia  

    any help on this, I see on the C and the E where to enter, but the K-1 entry is a mystery
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    rbynaker
    Level 13
    ‎12-06-2019 05:32 PM
    I suspect that's 'cause the K-1 handling of QBI is still a mystery.
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    mojocpa
    Level 7
    ‎12-06-2019 05:32 PM
    Could very well be, Mr. Rick.
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    georgie
    Level 1
    ‎12-06-2019 05:32 PM
    QBI for k-1s is entered on screen 20 item  Partnerships is a line 20 item (#20z, 20aa, 20ab, 20ac, 20ad). For s-corp & trust/estate screen has its own section "deduction for qualified business deductions"
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    mojocpa
    Level 7
    ‎12-06-2019 05:33 PM
    Aha! must have been in the latest update.  Either that or I am getting blinder.
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    George4Tacks
    Level 15
    ‎12-06-2019 05:33 PM

    I posted some pretty pictures at https://accountants-community.intuit.com/questions/1778778-the-next-release-date-is-12-12-2018-will-... for C, E and the 1065 K-1 

    P.S. The lion is getting blinder :wink:


    Here's wishing you many Happy Returns
    0 Cheers
    IntuitAlicia
    Employee
    Employee
    ‎12-06-2019 05:33 PM
    Thanks George, that covered everything I was going to reply with.  From the in-product alert to the community announcement to the input in Screen 20.2 'deductions for qualified business income'.
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