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Level 1
posted Sep 28, 2022 2:22:44 PM

How is TT calc'ing UBIA on Form 8895-A

Where is TT sourcing the UBIA # that is populated in the QBI Component Worksheet (in top table and also line 9)?  This flows through the Form 8995-A.  I don't agree with the number it is showing but I have no way to see how it is doing the math.

0 3 991
3 Replies
Employee Tax Expert
Sep 28, 2022 4:02:17 PM

Hi, this is a great question to reach out to TurboTax live expert with.  You can connect from within the program, but this page may also help you!

Regards,

Karen

Level 15
Sep 28, 2022 4:53:26 PM

6)Qualified property
For purposes of this section: 199A UBIA
The term “qualified property” means, with respect to any qualified trade or business for a taxable year, tangible property of a character subject to the allowance for depreciation under section 167— (original cost unreduced for depreciation) 
(iii)the depreciable period for which has not ended before the close of the taxable year.
The term “depreciable period” means, with respect to qualified property of a taxpayer, the period beginning on the date the property was first placed in service by the taxpayer and ending on the later of—
(i)the date that is 10 years after such date, or
(ii)the last day of the last full year in the applicable recovery period that would apply to the property under section 168 (determined without regard to subsection (g) thereof).
 
 
if this does not help talk to live support. 

Level 1
Sep 30, 2022 5:03:40 AM

Yes my question is whether there is a form or worksheet where it shows how it is doing the math to get that number.