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Question

QBI component worksheet

Forum|Forum|2 years ago
June 25, 2023
1 reply
0 views

My wife and I file a joint return. On the QBI Component Worksheet, my name is listed as an Aggregate Trade or Business Name referencing my SSN. I am being prompted to explained the factors that allow the aggregation in accordance with Reg Sec 1.199A-4.

I believe this is an error, but don't know how to correct it.

Hi,

I found a good article regarding this:

Go ahead and scroll down to the reply on 2/27/20 at 7:31pm PST from the link below:

https://ttlc.intuit.com/community/taxes/discussion/what-does-it-mean-aggregation-statement-must-be-entered/00/1132709

The statement would include the following:

- A description of each trade or business or property.

- The name and EIN of each entity in which a trade or business or property is operated.

- Information identifying any trade or business that was formed, ceased operations, was acquired, or was disposed of during the taxable year.

- Information identifying any aggregated trade or business or property of an RPE in which the RPE holds an ownership interest.

- Such other information as the Commissioner may require in forms, instructions, or other published guidance.

If you only have one property, or choose not to aggregate them, then it should not be an issue.

If you have any other questions, feel free to call TurboTax at 1-800-446-8848. Thank you.

https://ttlc.intuit.com/community/taxes/discussion/what-does-it-mean-aggregation-statement-must-be-entered/00/1132709

John

CPA