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Deductions & credits
I hope you can help. We have QBI from our restaurant/S-corp fililng jointly and our income exceeds the threshold and phase in. TurboTax appears to still be taking the full 20% deduction using part II of form 8995A for both my wife and I. This seems to be addressed in Q15 but its unclear to me. I'm letting a tax pro do my taxes this year because everything seems too confusing and she said we SHOULD NOT get any deduction. TurboTax disagrees. Can you shine any light into this?
‎April 19, 2022
8:59 AM