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taxesaresofun
Returning Member

QBI Deductions

On the QBI TurboTax page, Other Deductions is listed below Wages.

 

Should I list the total amount of my other deductible expenses in this field?

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4 Replies

QBI Deductions

Can you be more specific as to where you are in the program and which product you are using?

taxesaresofun
Returning Member

QBI Deductions

TurboTax Business 2022 in the Qualified Business Income deduction:

TurboTaxBusiness.png
taxesaresofun
Returning Member

QBI Deductions

Bumping, thanks!

ThomasM125
Expert Alumni

QBI Deductions

Your qualified business income (QBI) is basically your net income from the business. However, there may be certain items of income or deduction that affect your QBI but not your business income. The deduction box here is to allow you to report those adjustments. They are rare though, so you may not have an entry to be made here. Your normal business deductions such as supplies and office expenses are entered elsewhere in the program, so they would not be entered here.

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