☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 1
posted Feb 25, 2020 6:18:36 AM

"Sch K-1 Wks-S Corporations: Activity name has entries for certain deductions such as section 179, depletion, section 59(e)(2) and

"Sch K-1 Wks-S Corporations: 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 purposes of the qualified business income deduction those expenses are not yet supported. This will be enabled in a subsequent release."
WHEN WILL THIS BE ENABLED SO I CAN FILE???

0 2 396
2 Replies
Expert Alumni
Feb 25, 2020 4:25:23 PM

For the purposes of the qualified business deduction, these need to be reported on a 8995A.  This form has not been released by the IRS.

 

Here is the latest updates on when the forms will be released by the IRS. Please review this IRS link. for information on the latest updates. Looks like 2/28/2020 for the 8995A form.  

 

Note: If you use Turbo Tax Software and not the online version, you may wish to update before you finalize your return.

 

Level 2
Feb 26, 2020 7:03:47 AM

The form HAS been released by the IRS.  CPA firms are e-filing with the released form.  I confirmed this with my CPA friend yesterday.  What is the problem????????????????????????????