How do I prepare the QBID (199A) worksheet in a 1040, 1041, 1065, 1120, or 1120S return using interview forms?

  • Article Type:
  • QA
  • Last Modified:
  • 10/22/2019

Question

How do I prepare the QBID (199A) worksheet in a 1040, 1041, 1120, 1120S, or 1065 return using interview forms?

Environment

  • CCH ProSystem fx Tax
  • 1040
  • 1041
  • 1065
  • 1120
  • 1120S
  • Interview
  • Section 199A

Answer

​This video shows how to prepare the Qualified Business Income Deduction or QBID (Section 199A) worksheets in a 1040 return using interview forms.


QBI-1 is used to get the QBID (199A) output worksheet(s) to print and populate by labeling an income producing activity/entity as Qualified Business or Qualified Service activity. Any entries made to QBI-1 assume the return already has complete entries for business, rental, farm, depletion, and/or passthrough K-1s received for the QBID (199A) worksheet(s) to calculate.

In all products QBI-1, Box 30 can be used to assume all income producing activities are intended to be included in the QBI calculation and that none are Specified Service activities. If any activities are considered Specified Service, then we would recommend listing each activity on QBI-1 Boxes 40-63.
 
The following inputs will generate the QBID (199A) worksheets:

Return Type                 

Interview Form Number                                                                         

Box Numbers                                       

1040 - IndividualQBI-1 - Qualified Business Income (Section 199A)40-42 (except for Passthrough K-1s received)
K-12 - K-1 Additional Information, Section 199A50-63
IRS-K1 1041 - Schedule K-1 (1041)333-354
IRS-K1 1065 - Schedule K-1 (1065)965-973
IRS-K1 1120S - Schedule K-1 (1120S)275-279, 561-563
1041 - FiduciaryQBI-1 - Qualified Business Income (Section 199A)40-42 (except for Passthrough K-1s received)
O-7 - K-1 - Form 4255, Commercial Revitalization, Additional K-1 Info and Sec 199A70-87
IRS-K1 1041 - Schedule K-1 (1041)310-317
IRS-K1 1065 - Schedule K-1 (1065)727-735
IRS-K1 1120S - Schedule K-1 (1120S)316-318, 237-242
1065 - PartnershipQBI-1 - Qualified Business Income (Section 199A)40-42
1120 - CorporationQBI-1 - Qualified Business Income (Section 199A)40-42
1120S - S CorporationQBI-1 - Qualified Business Income (Section 199A)40-42

Additional Information

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