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clarke193
New Member

Will Turbo Tax automatically file for me a QBI deduction for my small business if I qualify for it and/or how do I tell in advance of filing whether TT did?

 
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JulieCo
New Member

Will Turbo Tax automatically file for me a QBI deduction for my small business if I qualify for it and/or how do I tell in advance of filing whether TT did?

Yes, TurboTax will calculate the QBI deduction for you.  As you complete entry for your business (Schedule C), you will be notified of the amount of the deduction.  Plus, you can preview your 1040 form and see if the QBI deduction is reported on line 9 of the 1040 form.

To preview your 1040 in TurboTax Online:

Select Tools Tools from left hand column. Then Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu.


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JulieCo
New Member

Will Turbo Tax automatically file for me a QBI deduction for my small business if I qualify for it and/or how do I tell in advance of filing whether TT did?

Yes, TurboTax will calculate the QBI deduction for you.  As you complete entry for your business (Schedule C), you will be notified of the amount of the deduction.  Plus, you can preview your 1040 form and see if the QBI deduction is reported on line 9 of the 1040 form.

To preview your 1040 in TurboTax Online:

Select Tools Tools from left hand column. Then Tools. Next, select View Tax Summary in the pop-up, then Preview my 1040 in the left menu.


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