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QBI
QBI - can I adjust the calculated amount? I need to include the BUSINESS INTERST EXPENSE from shareholder and also SE Health Insurance. The instructions for Form 8995 list both these.
itonewbieAnswer
Level 15
April 6, 2020
Did you say "shareholder"? So, this is an s-corp but §163(j) is not deducted at the shareholder level, which means there's nothing to allocate on F.8995-A. If this were a partnership, however, there does seem to be a problem because §163(j) interest allowed flows through from F.8990 to Sch E page 2 but it stops there instead of flowing to F.8995-A.
There also seems to be a problem with SEHI for 2% shareholder flowing to F.8995-A. You would normally expect that to flow by checking the box for Reduce QBI by self-employed health insurance but it doesn't.
@IntuitAustinCould you please take a look at why these items are not flowing in Lacerte/PTO and give us an update? Thanks!
---------------------------------------------------------------------------------Still an AllStar
