BillM223
Expert Alumni

Get your taxes done using TurboTax

"I am now doing it in the income adjustment screen (adjusting my wages, dividends, and deductions, altogether in one lump sum. )"

 

Yes, since QBI is an income deduction, a mistaken income adjustment should be corrected in the income adjustment screen. Just put a single entry for each person (if you are splitting it) with a label like "Adjustment for excess QBI" and the positive amount to make it correct.

 

Then write a note to yourself on why you did what you did (you had to work around a difficulty in the tax software) and put it in your tax file, in case anyone ever asks.

 

"Have fun doing tax." Thank you! We all enjoy the tax season that never ends (held over for another year 😉 ).

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