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There is a decent summary on the IRS web site at the link below.
https://www.irs.gov/newsroom/qualified-business-income-deduction
There is a decent summary on the IRS web site at the link below.
https://www.irs.gov/newsroom/qualified-business-income-deduction
Does your K-1 have a code Z in box 20 ?
And TT has worksheets for everything ... save a PDF with the worksheets to see how the QBI is being calculated ...
Or a code V in Box 17 for an S corporation (K-1 1120-S).
you may also want to review form 8995/8995-A which is the IRS form for computing the overall QBI deduction once QBI for each trade or business id calculated from the separate worksheets.
One thing I found was my QBI credit was not as much as I thought it would be. Because I had a business loss the prior year and it carried it over and took it into account.
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