I have what appears to be a common error in my TT Home and Business 2024 return that has not been solved in other Community posts.
TT is requiring an entry in Schedule C, QBI worksheet line K1 "Net income allocable to qualified payments from agricultural or horticultural coop." It cannot be left blank, it cannot be left as 0. When running review, the error message is ""Qualified coop payments should not be more than the Total gross receipts or sales plus Other income reported in Part I."
This business has a loss and thus a negative Allowable QBI (line H1). Entering that negative value on line K1 clears the error, but this is obviously false -- this business has no income related to agriculture. As stated in other Community posts, this seems like a software error.
I have tried deleting this Schedule C and starting over, but I get the same error. If the business were operating in profit, this software error would not be triggered if the field was left as 0.
Any assistance much appreciated.
We have tested Schedule C QBI in TurboTax Home & Business but are unable to reproduce the experience you have seen. It would be helpful to have a TurboTax ".tax2024" file to test this issue further.
If you would be willing to send us a “diagnostic” file that has your “numbers” but not your personal information, please follow these instructions:
In TurboTax Desktop, open your return and go to Online in the TurboTax header. (On a Mac computer, choose Share or Help.)
We will then be able to see the same experience you are having. If we are able to determine the cause, we'll reply here and provide you with a resolution.