AliciaP1
Expert Alumni

Get your taxes done using TurboTax

You have missed checking the box, "xxx has business income (loss)" when entering the 199A income information.  To correct this you need to follow these steps in TurboTax Home & Business:

 

  1. Within your return in Step-by-Step mode,  under the Personal tab and the Personal Income sub-tab click  Continue
  2. Click I'll choose what I work on
  3. Scroll down to Business Investment and Estate/Trust Income and click Update on the Schedule K-1 line
  4. Click Update on the S corporations line
  5. Click Edit for the S corporation K-1
  6. Answer any questions that reset blank and Continue until you get to the We need some information about your 199A income screen
  7. Check the first box for xxx has business income (loss) and enter the amount of your Ordinary Business Income from the matching line on your "Statement A - QBI Pass-through Entity Reporting" that is page 2 of your K-1.

This corrects the error and allows the QBI deduction to calculate on your returns.

 

@DANGYKICKR

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