The QBI deduction is calculated automatically by TurboTax on your return. It is a personal income tax deduction and is reported on line 9 of the 1040 form.
If you have business income operated
through a partnership, LLC, S corporation, or sole proprietorship, or real estate investment trust (REIT)
dividends and qualified publicly traded partnership income, then a QBI deduction will be calculated on the eligible income. Note that not all rental activity is eligible for the deduction. Plus, for taxable income over the thresholds of $157,500 single/MFS or $315,000 joint, the QBI deduction is phased out for qualified business income of specified service or trade businesses (SSTB's) and completely eliminated for taxable income above $207,500 single/MFS and $415,000 joint.
Therefore, once you enter in your Schedule C, E, or F, 1099-DIV information and answer a few questions related to the business income, TurboTax will calculate the QBI deduction.
See more information below:
https://ttlc.intuit.com/replies/7019998
