Most likely your business income is being reduced by your self-employment tax listed on line 15 of schedule 1, and/or the IRA or other pension plan deductions listed on line16 or 20 of schedule 1, and/or the self-employed health insurance deduction on line17 of schedule 1. All of these items reduce your business income before the QBI deduction calculation is allowed. Also, any unreimbursed partnership expenses deducted on schedule E would be subtracted from your business income to arrive at your QBI income.
Also, capital gains, dividends and foreign income would be subtracted from your business income to arrive at the QBI income. They are listed on page one of your Form 1040.
To view your form 1040 and schedule 1 to 3:
- Choose Tax Tools from your left menu bar in TurboTax Online
- Choose Tools
- Choose View Tax Summary
- See the Preview my 1040 option in the left menu bar and click on it
- Choose the Back option in the left menu bar when you are done
There are two worksheets in TurboTax where you can see QBI calculations, the QBI component and QBI deduction summary.
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