199A QBI STATEMENT

mini 11 · ‎February 5, 2023

I am a single owner of S.corp and claimed new computer ($3,000) 100% use for business in 2021 under section 179.

But I see this amount $3,000 on 199A statement, QBI statement as UBIA of qualified property from my 1120S 2022 year.

Is this an error or this is correct? I assume it will stay like this until the end of life 5years?

Please advise me. Thank you very much!

PatriciaV · ‎February 6, 2023

Yes, the unadjusted basis immediately after acquisition (UBIA) of qualified property held by a trade or business is reported BEFORE any depreciation. So the original basis of your business property will be reported under QBI until it is fully depreciated.

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View solution in original post

PatriciaV · ‎February 6, 2023

Yes, the unadjusted basis immediately after acquisition (UBIA) of qualified property held by a trade or business is reported BEFORE any depreciation. So the original basis of your business property will be reported under QBI until it is fully depreciated.

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

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199A QBI STATEMENT