Why is my QBI 75% of my Schedule C net profit and not 100%? I am a home builder/developer LLC
TurboTax is calculating my QBI as 75% pg my net profit from Schedule C. Why isn't it 100%.
01420
1 Best answer
Bsch4477
Level 15
Jun 1, 2019 10:17:39 AM
QBI is the lesser of 20% of your (Sch C income minus half of your Self Employment tax, and minus any self employed health insurance premiums and SEP IRA you might have), or 20% of you taxable income.
1 Replies
Bsch4477
Level 15
Jun 1, 2019 10:17:39 AM
QBI is the lesser of 20% of your (Sch C income minus half of your Self Employment tax, and minus any self employed health insurance premiums and SEP IRA you might have), or 20% of you taxable income.