JamesG1
Expert Alumni

Get your taxes done using TurboTax

In TurboTax Premier, I was able to report Qualified Business Income Deduction by following these entries

  • At the screen Choose type of activity, click Business box 1Continue.
  • At the screen Did you participate?, click on Yes.
  • At the screen Enter income or loss from box 1, enter positive dollar amount.  Continue.
  • scroll down to Schedule K-1 and click Edit/Add to the right.
  • At the screen Check Boxes, click Box 17 infoContinue.
  • At the screen Enter Box 17 info, select V-Section 199A information and enter positive dollar amount.  Continue.
  • At the screen Other Situations, select All of my investment is at riskContinue.
  • At the screen We see you have section 199A income, click The income comes from the S Corporation.
  • At the screen We need some information, I clicked Ordinary business income and positive dollar amount.
  • W-2 wages and amount.
  • UBIA and amount.  Continue.
  • At the screen Let's check for some uncommon, clicked None of these applyContinue.
  • At the screen We're almost done, clicked No I don't thinkContinue.
  • At the screen Great news! You get a tax break the screen reported a QBID of 20% of the QBI.

Was able to Review successfully.  Your situation may not be the same as above. @PaultheGhost 

[Edited 03/03/2021 2:56 PM PST]

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