SMartin Posted February 2, 2019 Report Posted February 2, 2019 Is there any easy way to aggregate multiple trades or businesses in ATX? For example I would like to aggregate an RPE 1065 K1 activity with a Schedule C activity for purposes of computing QBI. Also, does ATX generate the required aggregation statement to attach to the tax return or does this need to be manually attached? Thanks for any thoughts, Shannon Quote
EricF Posted February 4, 2019 Report Posted February 4, 2019 I do not believe ATX has provided an aggregation option in its Sec. 199A Worksheet, nor an automated aggregation election, so I think we will need to do the work on our own. I suggest working up your own aggregation of trades or businesses separately in an Excel spreadsheet. Choose which of the aggregated businesses you wish to report the numbers from the aggregation on the Activities tab of the Sec. 199A Worksheet. Enter the aggregated QBI, W-2 wages, and unadjusted basis on the line for that business. Do not check the other activities included in the aggregation as Qualified Businesses, and their numbers will not be separately included in the QBI calculation as if they were not being aggregated. Quote
BulldogTom Posted February 11, 2019 Report Posted February 11, 2019 Bump. Just checking to see if there is more information on how to do this. I have a client who has 5 rentals. When put together, they will meet the safe harbor for Sec 199A as to the 250 hour requirement. Has anyone figured out the best way to make this happen in the software? Where to make the election to aggregate and how to bring the totals to the forms? I did not think I was going to deal with this until the new rental regs came out. Now here I am and I don't know how to use the software to get the results I want on the return. Thanks Tom Modesto, CA Quote
ILLMAS Posted February 11, 2019 Report Posted February 11, 2019 47 minutes ago, BulldogTom said: Bump. Just checking to see if there is more information on how to do this. I have a client who has 5 rentals. When put together, they will meet the safe harbor for Sec 199A as to the 250 hour requirement. Has anyone figured out the best way to make this happen in the software? Where to make the election to aggregate and how to bring the totals to the forms? I did not think I was going to deal with this until the new rental regs came out. Now here I am and I don't know how to use the software to get the results I want on the return. Thanks Tom Modesto, CA Hello Tom, are you on Facebook by any chance? If yes, there is an ATX tax software support group, I bet someone there will know. Quote
Lynn EA USTCP in Louisiana Posted February 11, 2019 Report Posted February 11, 2019 FB also has an 199A group Quote
ILLMAS Posted February 11, 2019 Report Posted February 11, 2019 13 minutes ago, Lynn EA USTCP in Louisiana said: FB also has an 199A group With Tom Gorczynski? Quote
BulldogTom Posted February 11, 2019 Report Posted February 11, 2019 I don't facebook. Just can't see the reason. Tom Modesto, CA Quote
Lynn EA USTCP in Louisiana Posted February 11, 2019 Report Posted February 11, 2019 Yes, with Tom Gorczynski 1 Quote
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