Solved: We have notice in ProSeries that the QBI deduction is reduced by Adjustments to Income. Where is this in IRS rules?

doylependleton · ‎12-06-2019

abctax55 · ‎12-06-2019

Notice 2019-07. Issued 1.18.19

edit...Wrong...that's the safe harbor for rentals. Brain dead today. Too much snow, not enough electricity.

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

abctax55 · ‎12-06-2019

Notice 2019-07. Issued 1.18.19

edit...Wrong...that's the safe harbor for rentals. Brain dead today. Too much snow, not enough electricity.

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

rbynaker · ‎12-06-2019

Don't worry, I got your back.

abctax55 · ‎12-06-2019

Much appreciated...power on/off so I have to post "fast" & without resources except my brain. Not a good idea 🙂

"*******Tax software is no substitute for a professional tax preparer*******
( Generic Comment )"

rbynaker · ‎12-06-2019

Discussion on page 43. Actual regs on page 198 under "other deductions". There are no examples of this and the rules are murky at best.

Rick

We have notice in ProSeries that the QBI deduction is reduced by Adjustments to Income. Where is this in IRS rules?