I need to file an amended return that deletes my qualified business income deduction as it was entered in error. How do I delete this in my amended return?

Forum|Forum|7 years ago
June 1, 2019
2 replies
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JulieCo

Level 11

why do you think the QBI deduction was an error? It is something that is automatically calculated based upon the type of income reported on a return.

JulieCo

Level 11

As noted in my comment, the QBI deduction is a calculation done behind the scenes in TurboTax. If you had any self-employment income reported on Schedules C, E, or F, or if you had any REIT dividend income reported on a 1099-DIV in box 5 or income from a publicly traded partnership (PTP), then that income was subject to the QBI deduction. See more information below:

Per the IRS recently released Notice 2019-07, the following is a definition of the income included in the QBI deduction calculation:

Congress enacted section 199A (the Qualified Business Income Deduction) to provide a deduction to non-corporate taxpayers of up to 20 percent of the taxpayer’s qualified business income from each of the taxpayer’s qualified trades or businesses, including those operated through a partnership, S corporation, or sole proprietorship, as well as a deduction of up to 20 percent of aggregate real estate investment trust (REIT) dividends and qualified publicly traded partnership income.

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