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thebrokers
Returning Member

If Turbo Tax is not allowing my QBI for my LLC income, it allocates all income to me as self-employed. Should all be LLc income so why doen't it allow QBI?

If I qualify for QBI as a one person LLC why doesn't Turbo Tax allow me to record my income as something other than personal?
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1 Reply
DawnC
Expert Alumni

If Turbo Tax is not allowing my QBI for my LLC income, it allocates all income to me as self-employed. Should all be LLc income so why doen't it allow QBI?

A single member LLC is taxed as a sole proprietorship as self-employment income on Schedule C.   So, it sounds like your income is reported correctly.   After you enter all of your income and expenses, TurboTax will ask you the QBI questions and calculate your deduction.   To get back to these questions in TurboTax, search for qbi and use the jump to qbi link.    

 

From there, choose Schedule C to be taken to the questions.   On your business summary page, scroll down and click Continue - the next page will be the QBI questions.  If you have already visited the questions, the QBI deduction will be listed under the summary so you can edit.  

 

 

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