Level 2

Solved

cannot e-file due to endless-loop error regarding K-1 and QBI deduction

37 replies
419 views

This one error is preventing me from e-filing.

"Sch K-1 Wks-Partnerships (BUSINESS NAME, LLC): Activity name has entries for 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."

There is a CONTINUE button, and clicking on it dismisses the error, which is still listed as "Needs Review" preventing e-filing. I'm using Chrome browser.

How to I solve this?

TurboTax Self Employed Online

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Irene2805Answer

Alumni - Intuit

The message has to do with the Qualified Business Income Deduction. (QBID). Forms 8995 and 8995-A, the forms used to to calculate the amount of QBID, are not final yet. TurboTax will update the program after the IRS finalizes their instructions. After that update you should see the QBID on your tax return and you will be able to file.

For current information on forms availability, please click on this link: Federal forms availability [Note: Forms 8995 and 8995-A might appear at the bottom of the list, not necessarily in numerical order.]

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Irene2805Answer

Alumni - Intuit

The message has to do with the Qualified Business Income Deduction. (QBID). Forms 8995 and 8995-A, the forms used to to calculate the amount of QBID, are not final yet. TurboTax will update the program after the IRS finalizes their instructions. After that update you should see the QBID on your tax return and you will be able to file.

For current information on forms availability, please click on this link: Federal forms availability [Note: Forms 8995 and 8995-A might appear at the bottom of the list, not necessarily in numerical order.]

xtexanAuthor

Level 2

Thanks Irene, you're the best for simplifying an overly complicated situation!

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ryan2345

Level 2

Same problem here. Personal taxes are ready to e-file. When will this be fixed???

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Rcspcs

Level 2

Same here, customer service said I just have to keep waiting and checking! Grrr!

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sunsetview45

Level 3

Just checked again, still the same no update! Come on Turbotax.

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gforce3s

Level 2

Same thing even though their website says 8995-A is available currently. This is frustrating beyond belief.

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sbavely

Level 2

FYI... I contacted customer service on 2/21 with same issue. They believed this was solved in the 2/20/2020 update, however, after granting them remote access to my PC/Software, they saw this was not the case. They confirmed my software was up to date, and that I still had the error. They also could not determine how this was possible, because on their system it was already available. By the end of the conversation they could not say when the update would be available, because to them it was already in place. Offered to help me file an extension, which I refused, then issued me a full refund. Find this very disturbing since their "Forms Availability" link shows this is ready (https://care-cdn.prodsupportsite.a.intuit.com/forms-availability/turbotax_fed_online_individual.html). Next update for Forms that are still in limbo (for the record, nothing to do with this issue) is March 4, 2020. Maybe this will be fixed then????

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backyardliving

Level 2

my favorite is the tag on every page that says livw help when therew us bib m

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eneranch

Level 2

**** The latest update fixed my problem****

Had to delete the "massaged" K-1 & the manual override in the QBI Deduction Summary, then re-entered the K-1 Data & everything worked as expected.

E-filed both Federal & State, received acceptance notices a few hours later.

Disappointed I never received my email notification I was assured would arrive after TT fixed the problem.

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Ronnie77

Level 2

"Sch K-1 Wks-Partnerships (BUSINESS NAME, LLC): Activity name has entries for 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."

It was said that this was going to be resolved on 2/28/20. I am still getting this, is there a reason why?