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!
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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