ThomasM125
Expert Alumni

After you file

The Qualified Business Income (QBI) calculations are not yet available in TurboTax, due to late changes in the regulations by the IRS. The QBI deduction allows you to subtract a portion of your self employment income or income from an LLC from your ordinary income reported on your tax return. 

 

The program should be updated by February 5, 2020 to allow for the correct calculations in the program. You will have to wait until the program has been updated to properly report your taxable business income.

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