DawnC
Expert Alumni

Get your taxes done using TurboTax

No, you can get QBI as long as you have a profitable business.   The deduction amount depends on your total taxable income, which includes wages, interest, capital gains (etc.) in addition to income generated by the business.    How much is your taxable income; it is on line 15 of Form 1040.   

 

If your taxable income is less than $191,950 ($383,900 if filing jointly) - the deduction is  20%  of  QBI or taxable income minus capital gains and dividends (whichever is less) to come up with the deduction.   So, if you don't have taxable income, you won't get the deduction.

 

Did you already go through the interview screens and answer the QBI questions?  If not, go back to the Schedule C interview.   After you enter your income and expenses, click on Continue - - and the QBI questions appear.   @jtkbau 

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