Sch k-1 wks Partnerships

[LizzyF]

I'm trying to file my personal taxes online and get the following message for an LLC of which I am a partner:

"...Activity name has entries for certain deductions such as section 179, depletion, section 59(e)(2) and other expenses that may be individually limited. For the purpose of the qualified business income deduction those expenses are not yet supported. This will be enabled in a subsequent release."

What does this mean? And, when will the "release" take place? Will this release free things up or will is on the end of the LLC (meaning, would I need an amended Schedule K)?

[cleone02]

I am getting the exact same message. So just following this thread.

[KarenM90]

The form used to calculate Business QBI (Form 8995-A) and the related deduction is not yet available.  It is expected to be available on 2/20/2020.

[cleone02]

Perfect thanks!

[JoBuzz22]

I was confused by the same message.  It is disappointing that the release/fix will not be available until 2/20/20 or later.  I am following this in case any further information becomes available. 

[patrickf123456]

I too am having this problem....

[meciccotelli]

I am following this thread as well in case anything changes with the expected 2/20 release date.

[thestosh]

I am also having this issue. There have been multiple dates when it was said to be ready. How will we be notified when it is fixed? Do we just keep trying it every day?

[Bphon2378]

I just found this thread and posted on another thread the following below.  I never got any mesasge and almost filed my taxes including business and personal.  TurboTax is not calculating my QBI deduction and it's not even giving me a message. At least, I have a possible release date now. I shouldn't have to be digging in the forums for this info. I"m also following this thread

"Well at least you go the message "the qualified business income deduction (Section 199A) is not yet been finalized".  I'm doing  my business partnership and when I selected I'd like to take the QBI deduction, it did nothing and did not apply it.  I didn't realize this until I started doing my personal return and noticed it.  This error would have cost me over $1000!  I couldn't figure out why it wasn't calculating and even did my taxes a second time thinking I may have missed something and after 3 hours with turbotax support being bounced around, they found this thread.  TurboTax customer care had no notes no nothing no information about the QBI deduction delay.  It's been almost two weeks since this has been posted and no fix?  I almost filed my taxes  since I  did not receive a memo/pop up message.  Is there an ETA when it will be finalized?  This is crazy."

[LizzyF]

I check back every couple of days just in case it drops before 2/20/20. I'm quite annoyed with the lengthy delay. In past years, I've had to wait a week or so for a specific form. But, it's never been this long. I'm still not clear on whether this is a Turbo Tax issue or an IRS issue. If it is TT, would the downloadable/disc version have the same issue? After nearly two decades of using Turbo Tax, I may need to research other options for next year. 

[fadzie1978]

This hasn't been fixed for a while maybe we need to try different tax software.

[fadzie1978]

i agree with you and i may start recommending other tax  software too.

[NS37]

Everything else is ready to file, except this one issue.  Hoping for earlier release.. Following for more updates.

[rashmedic]

I am following this thread as well in case anything changes with the expected 2/20 release date

[boomer768]

I am having the same issues here. My tax expert on TT says this is a new form for 2019 tax year.