Unadjusted basis for qualified property report for new QBI reporting

Question

Is there a pre-set report for this in SAGE?

Bob Mc · Answer

The short answer is NO. 
 In the Principles class, however, offered through Sage U, there is a lesson included in the textbook that walks the student through a series of recommended steps that could be used to calculate the Qualified Business Income (QBI) deduction. These steps include: 
 o creating groups of assets to identify qualified property. 
 o creating a customized report from which the 2.5% can be calculated. 
 While the mechanics to performing these steps are taught in the Intermediate Depreciation class (also offered through Sage U), you may already be familiar with these because they are used by fixed asset managers who are proficient in the SFA software. 
 Hence, there is nothing really new that is taught here in the Principles class. This particular lesson merely guides the student through these procedures in order to comply with the provisions of Section 199A of the Internal Revenue Code because there is no standard report currently available in the program that will provide the deduction amount.

Sage Fixed Assets

Unadjusted basis for qualified property report for new QBI reporting

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