Schedule A of Form 8995-A Line 9 (where you just divide Line 7 by Line 😎 is WRONG, which in-turn causes Line 10 to be WRONG! Their decimals are in the WRONG spot. Funny thing is, Line 11 has the correct number, but not because Turbo Tax followed the line instructions. See Lines 2 & 7 - 11 below:
2 QBI 616 (CORRECT)
7 Subtract line 6 from line 5 19,875 (CORRECT)
8 Phase-in range. Enter $50,000 ($100,000 if married filing jointly) 100,000 (CORRECT)
9 Divide line 7 by line 8 0.001988 (S/B 0.1988, NOT 0.001988)
10 Applicable percentage. Subtract line 9 from 100% 0.8012% (S/B 80.12%, NOT 0.8012) 11 Applicable percentage of qualified business income or (loss). Multiply line 2 by line 10 494 (CORRECT)
If I followed the Line 11 directions with their numbers, Line 11 would be 4.94, not $494.
How do we get this fixed by Turbo Tax???
