Triva isn't available right now.
Check out the support page for our phone number and hours
Legal
Recommended Products
-
Westlaw
Conduct legal research efficiently and confidently using trusted content, proprietary editorial enhancements, and advanced technology.
-
Practical Law
Accelerate how you find answers with powerful generative AI capabilities and the expertise of 650+ attorney editors. With Practical Law, access thousands of expertly maintained how-to guides, templates, checklists, and more across all major practice areas.
-
HighQ
A business management tool for legal professionals that automates workflow. Simplify project management, increase profits, and improve client satisfaction.
Questions? We are here to help
Tax & Accounting
Recommended Products
-
Checkpoint Edge
Unleash the power of generative AI through an accounting and tax research tool. Find answers faster with dialogue-based research and quick, on-point search results.
-
UltraTax CS
Provides a full line of federal, state, and local programs. Save time with tax planning, preparation, and compliance.
-
SurePrep 1040SCAN
Automate work paper preparation and eliminate data entry
Questions? We are here to help
Trade & Supply
Recommended Products
-
Foreign Trade Zone Management
Software that keeps supply chain data in one central location. Optimize operations, connect with external partners, create reports and keep inventory accurate.
-
Indirect Tax
Automate sales and use tax, GST, and VAT compliance. Consolidate multiple country-specific spreadsheets into a single, customizable solution and improve tax filing and return accuracy.
Questions? We are here to help
Risk & Fraud
Recommended Products
-
CLEAR
Search volumes of data with intuitive navigation and simple filtering parameters. Prevent, detect, and investigate crime.
-
Fraud Detect
Identify patterns of potentially fraudulent behavior with actionable analytics and protect resources and program integrity.
-
ID Risk Analytics
Analyze data to detect, prevent, and mitigate fraud. Focus investigation resources on the highest risks and protect programs by reducing improper payments.
Questions? We are here to help
News & Media
Recommended Products
-
Reuters Connect
Around the globe, with unmatched speed and scale, Reuters Connect gives you the power to serve your audiences in a whole new way.
-
Reuters Plus - Content Studio
Reuters Plus, the commercial content studio at the heart of Reuters, builds campaign content that helps you to connect with your audiences in meaningful and hyper-targeted ways.
-
Reuters.com Platform
Reuters.com provides readers with a rich, immersive multimedia experience when accessing the latest fast-moving global news and in-depth reporting.
Questions? We are here to help
Books
Recommended Products
-
What's new in legal products
Shop our latest titles
-
Shop tax customer favorites
ProView Quickfinder favorite libraries
Questions? We are here to help
Developers
-
APIs by industry
-
Related sites
-
United States Support
-
International support
-
New releases
-
Join a TR community
-
Free trials & demos
Qualified business income for Schedule K-1, 1120S and 1065
If you prepared the 1120S or 1065 return in UltraTax CS, the qualified business income (QBI) calculates in the business return. You can share it with the 1040 client via data sharing. The QBI amounts appear on the K1QBI screen in the K1 1065, 1120S folder.
Qualified business income calculates using the amounts reported on Schedule K-1, adjusted for the following:
- 4797 Part II gains/losses (including net Section 1231 losses)
- Section 179 expense
- Depletion
- Section 59(e) expenditures
- Pre-productive period expenses
- Reforestation expenses
- Other deductions
- Unreimbursed partnership expenses
- Other income or loss
- Debt financed acquisition
- Dependent care benefits
- Self-employment-related deductions (partnerships only)
- The deductible portion of self-employment taxes
- Contributions to self-employed SEP, SIMPLE, and qualified pensions
- Self-employed health insurance deduction
- Any exclusions for pre-TCJA suspended passive, at-risk, basis, excess farm loss, and prior Section 179 carryovers
You may have to adjust this amount for income that doesn't qualify under Section 199A. You can review the calculation on the K-1 Reconciliation - Qualified Business Income worksheet in Form View in the E folder.