Qualified Business Income Deduction

9 replies
59 views

Turbotax 2019 Delux is giving me a Qualified Business Income Deduction even though I do not have business income and are not qualified for this deduction.

ThomasM125

Alumni - Intuit

The deduction may be coming from a K-1 entry that you made. You may have an investment in a partnership or S corporation that has QBI income, so you would get a deduction for that.

Also, you may have entered a form 1099-MISC that reported income in box 7. That would be considered self-employment income even if you don't consider yourself self-employed. You would be entitled to a QBI deduction for that also.

**Say "Thanks" by clicking the thumb icon in a post. **Mark the post that answers your question by clicking on "Mark as Best Answer"

John8565Author

Level 2

Thanks for your reply. I have searched those forms and more and still can’t find the source of the number. However I discovered that the QBI Deduction Summary form is not ready yet (even though it’s out there) and will be released by Turbotax on February 12th. At that time I am hoping that the number may go away. If not deleting form 8995 and the QBI Deduction Summary is the recommended fix offered by Turbotax. They can’t be deleted now however as they haven’t been released yet. Thanks again.