Level 3

QBI -- Coop Qualified Payments

Forum|Forum|7 years ago
February 6, 2019
1 reply
10 views

Lacerte has no entry in the partnership program nor the 1120-S module to enter

QBI allocable to qualified payments received from coopertive or an entry for W-2 Wages allocable to qualified payments received from a cooperative.

Thus, the program will not calculate the correct QBID for Partnership or S Corp farming returns.

What a mess

This topic has been closed for replies.

Kathi_at_Intuit

Moderator

We are aware and these inputs will be coming in a future update of Lacerte for the 1065 and 1120s tax modules. As a workaround this information could be entered in supplemental information. If you are not sure how to enter in this information, type "supplemental information" in the Search box in the upper right of Lacerte, it would bring up these knowledge base articles:

Entering Partnership Schedule K-1 Supplemental Information for Partners

https://accountants-community.intuit.com/articles/1608631&src=lsccom

Entering 1120s K-1 Supplemental Information

https://accountants-community.intuit.com/articles/1609412&src=lsccom

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