turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Banjo3
New Member

Has anyone seen a discrepancy in the QBID calculation? Our business income is $83,277, but our QBID is only $12,478, not 20%?

 
1 Reply
JulieCo
New Member

Has anyone seen a discrepancy in the QBID calculation? Our business income is $83,277, but our QBID is only $12,478, not 20%?

There are several pieces to the QBI deduction calculation as it is not a straight 20% of business income.  For instance, for taxable income under the first threshold of taxable income under $157,500 single or $315,000 joint, the calculation is 20% of QBI (which is your qualified business income less your portion of self-employment taxes, self-employed health insurance, etc) OR 20% of your taxable income (except capital gains and dividends), whichever is LESS.

See more information below, including deduction calculation examples within each threshold level:



Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
message box icon

Ready to start your taxes?

Hand off your taxes, get expert help, or do it yourself.

See Pricing

Related Content

Manage cookies