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New Member
posted May 5, 2021 4:40:30 AM

What's the Qualified Business Income deduction? Why does this show up stating we are qualified if we don’t own a business?

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1 Best answer
Level 15
May 5, 2021 5:03:44 AM

TurboTax automatically calculates your Qualified Business Income (QBI) deduction based on the entries you make for QBI businesses (Schedule C self-employment income, Schedule E rental income) or the entries you make for QBI income "passed through" from other businesses (1099-DIV, Schedule K-1)...  LOOK for a 199A heading. 

2 Replies
Level 15
May 5, 2021 5:03:44 AM

TurboTax automatically calculates your Qualified Business Income (QBI) deduction based on the entries you make for QBI businesses (Schedule C self-employment income, Schedule E rental income) or the entries you make for QBI income "passed through" from other businesses (1099-DIV, Schedule K-1)...  LOOK for a 199A heading. 

New Member
May 5, 2021 5:21:15 AM

So if I have a 1099 that automatically counts as a qualified business?