The IRS issued regs in January 2019 that reduced the amount of allowed QBI income--for purposes of calculating the QBI deduction.
For Schedule C filers like me the calculation goes something like this:
Net Schedule C Income minus retirement contributions (individual 401(k)) related to that Schedule C business minus 1/2 of SS/Medicare taxes for that business minus the self-employed health insurance deduction for that business.
It really reduces the benefit of the QBI deduction, but I can see the logic behind the reductions.
My question is how (and where) is TurboTax calculating the amount of QBI (not the QBI deduction, but the QBI itself)? The TT QBI amounts for my Schedule C businesses are (IMO) way off, but (strangely) the aggregate QBI in TT for all my businesses is very close to my Excel calculation.
