cohenmandj
New Member

Can I get QBI credit on payroll that I paid myself on Schedule C? Used a payroll service so I could get health insurance.

Is there a place on the input sheet for calculating QBI to add the payroll back to the allowable income?

abrown19
New Member

Get your taxes done using TurboTax

QBI does not include items such as:

  • Items that are not properly includable in taxable income
  • Investment items such as capital gains or losses or dividends
  • Interest income not properly allocable to a trade or business
  • Wage income
  • Income that is not effectively connected with the conduct of business within the United States
  • Commodities transactions or foreign currency gains or losses
  • Certain dividends and payments in lieu of dividends
  • Income, loss, or deductions from notional principal contracts
  • Annuities, unless received in connection with the trade or business
  • Amounts received as reasonable compensation from an S corporation
  • Amounts received as guaranteed payments from a partnership
  • Payments received by a partner for services other than in a capacity as a partner
  • Qualified REIT dividends
  • PTP income

For more detailed information about QBI deductions, see here: https://www.irs.gov/newsroom/qualified-business-income-deduction

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