How do I prepare the QBID (199A) worksheet in a 1040, 1041, 1065, 1120, or 1120S return using interview forms in CCH® ProSystem fx® Tax?
- Article Type:
- QA
- Last Modified:
- 01/16/2024
Question
- To view this solution using the worksheet view, see our solution on How do I prepare the QBID (199A) worksheet in a 1040, 1041, 1065, 1120, or 1120S return using worksheet view in CCH Axcess™ Tax and CCH® ProSystem fx® Tax?.
Environment
- CCH ProSystem fx Tax
- 1040
- 1041
- 1065
- 1120
- 1120S
- Interview
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 - Individual | QBI-1 - Qualified Business Income (Section 199A) | 40-42 (except for Passthrough K-1s received) |
| K-12 - K-1 Additional Information, Section 199A | 50-63 | |
| IRS-K1 1041 - Schedule K-1 (1041) | 333-354 | |
| IRS-K1 1065 - Schedule K-1 (1065) | 930-962, 965-973 | |
| IRS-K1 1120S - Schedule K-1 (1120S) | 275-279, 920-947 | |
| 1041 - Fiduciary | QBI-1 - Qualified Business Income (Section 199A) | 40-42 (except for Passthrough K-1s received) |
| O-8 - K-1 Section 199A | 30-115 | |
| IRS-K1 1041 - Schedule K-1 (1041) | 310-323 | |
| IRS-K1 1065 - Schedule K-1 (1065) | 733, 320-332 | |
| IRS-K1 1120S - Schedule K-1 (1120S) | 240-304 | |
| 1065 - Partnership | QBI-1 - Qualified Business Income (Section 199A) | 40-42 |
| 1120 - Corporation | QBI-1 - Qualified Business Income (Section 199A) | 40-42 |
| 1120S - S Corporation | QBI-1 - Qualified Business Income (Section 199A) | 40-42 |
Additional Information
N/A
| Solution Id | 000251158/How-do-I-prepare-the-QBID-199A-worksheet-in-a-1040-1041-1065-1120-or-1120S-return-using-interview-forms-in-CCH-ProSystem-fx-Tax |
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