Level 1

Solved

HI. Does Proconnect have a way to calculate the QBI deduction on an individual's tax return? Does anyone else find this software very poor in design?

Forum|Forum|6 years ago
December 7, 2019
11 replies
45 views

Every time I try to find the input for QBI in proconnect, I get directed to a knowledge base article. I don't need more knowledge, I need to be able to input information and know it is being calculated correctly. Anyone else having trouble with this.

I need to know how to input the QBI deduction for an individual who does NOT have a schedule C ( info coming from K-1).

a) I cannot find a way to input this info from the K1

b) I cannot find a way to input this info directly onto the 1040.

c) does anyone else find proconnect to be the worst tax software ever? Glad I'm only doing the trial version....

d) I'd ask tech or customer service these questions but there appears to be none (they say there is but no one answers phone and chat is always unavailable).

ProConnect Tax Online

This topic has been closed for replies.

Best answer by itonewbie

"I get directed to a knowledge base article. I don't need more knowledge"

But apparently, you do need more knowledge. If you had read the articles and made your entries as instructed, you'd know that it works as designed, at least as far as Sch C and K-1 are concerned, both with and without phase-in as well as loss allocation. I have yet to try Sch E safe harbor, Sch F, and SSTB though.

Info for QBI is included on each K-1, on Line 20 for 1065 and Line 17 for 1120S, and there are corresponding line items for those entries in the left panel of PTO. You may want to re-read at least these 2 articles:

https://accountants-community.intuit.com/articles/1786608-proconnect-tax-online-simplified-worksheet...

https://accountants-community.intuit.com/articles/1791143-proconnect-tax-online-complex-worksheet-se...

[Edited: Remove incorrect reference to comment]

itonewbie

Level 15

IMHO, PTO is not poor in design - there are just certain limitations. It is capable of handling complex returns and quite versatile because it's got Lacerte under the hood (if you haven't noticed) but you pay much less, partly because you also get less in terms of functionalities and those nice to have features.

---------------------------------------------------------------------------------Still an AllStar

itonewbie

Level 15

@The Intuit Boris @Kathi_at_Intuit @ITO_KatieB @Intuit Austin PTO (and possibly Lacerte) has a bug and is not allocating 1/2 SE-tax deduction to reduce QBI coming from K-1 (at least on 1065) whenever the K-1 is marked as belonging to the Spouse. This doesn't happen with Sch C. Could you please take a look and give us an update? Please see also my post on FB. Thanks!
https://www.facebook.com/groups/1529270910639612/permalink/2365305990369429/?comment_id=2365929743640387

---------------------------------------------------------------------------------Still an AllStar

Accountant-Man

Level 13

There is no SE tax on S corp k-1 income, only partnership.

** I'm still a champion... of the world! Even without The Lounge.

itonewbie

Level 15

Oops, you're right. Don't know what got over my head.

---------------------------------------------------------------------------------Still an AllStar

IntuitAustin

Level 10

@itonewbie @Accountant Man As long as this is the same issue brought up in the Facebook group, I've got it pushed over to tax development for further review. The behavior is the same in Lacerte. I will update here and the FB group when we hear back

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Accept as solution"

itonewbie

Level 15

It's the same issue. Thanks, @Intuit Austin!

---------------------------------------------------------------------------------Still an AllStar

IntuitAustin

Level 10

Good Morning! Our development team reviewed the issue with a K-1 being marked as spouse and how it calculated the QBI, that issue is getting resolved in an update coming out tomorrow (2/1) @itonewbie

**Say "Thanks" by clicking the thumb icon in a post**Mark the post that answers your question by clicking on "Accept as solution"

itonewbie

Level 15

Sounds good! Appreciate the timely support from you and your team, @Intuit Austin!

---------------------------------------------------------------------------------Still an AllStar

itonewbieAnswer

Level 15

"I get directed to a knowledge base article. I don't need more knowledge"

But apparently, you do need more knowledge. If you had read the articles and made your entries as instructed, you'd know that it works as designed, at least as far as Sch C and K-1 are concerned, both with and without phase-in as well as loss allocation. I have yet to try Sch E safe harbor, Sch F, and SSTB though.

Info for QBI is included on each K-1, on Line 20 for 1065 and Line 17 for 1120S, and there are corresponding line items for those entries in the left panel of PTO. You may want to re-read at least these 2 articles:

https://accountants-community.intuit.com/articles/1786608-proconnect-tax-online-simplified-worksheet...

https://accountants-community.intuit.com/articles/1791143-proconnect-tax-online-complex-worksheet-se...

[Edited: Remove incorrect reference to comment]

---------------------------------------------------------------------------------Still an AllStar

George4Tacks

Level 15

Maya didn't make the "Does not work on page 2 of Schedule E, otherwise a good answer." referring to the CLICK HERE. At least I didn't even mention sunshine. I am really trying to be Mr. Niceguy for a while.
I agree that PTO is very awkwardly designed, but I never woulda thunk that someone would try to prepare tax returns professionally on their phone.

Answers are easy. Questions are hard!