DBAN1957

I am looking at the QBI Deduction - Service tab of the "Sec 199A Wkst" Under the dropdown box "Select Activity to Display Below" the only option to choose is blank. My Schedule C is not a choice under the drop down box. Under the Activities Tab the Schedule C is listed under activity name. I checked the blue box labeled "Service Business: I am under the thresh hold limit for taxable income. I get no QBI deduction. I have positive taxable income, no net capital gains, no K-1s, no rentals, no other business loss that would offset the number. No Numbers show up on the QBI Deduction - Service tab. Even if I put number in the blue coded box labeled "Income/Loss" on the "Activities Tab" I do not get a deduction. Has anyone run into a similar situation with the Sec 199A Wkst? Any comments would be appreciated. Thanks

I have a little S Corp that is closing his business. Beginning and ending inventory is the same same number, let's say $1000.00. There was no sales or activity for 2008. The inventory went to the shareholder. I did the debit to distribution and credit to inventory on the books. However, how do I show the Schedule A. If I show no ending inventory, I get a $1,000 for COGS. If I want to show no ending inventory or COGS, then I have to show negative purchases. So my question is how do you show Sch A (COGS) on a final return when the shareholder takes the inventory home? Do I leave ending inventory equal to the beginning inventory? Thanks Dave