rjs
Level 15
Level 15

Business & farm

You never answered the questions about whether your LLC is single-member or multi-member, and whether it has elected to be treated as a C corporation or S corporation for tax purposes.

If you have a single-member LLC that has not elected to treated as a corporation, you report the business on Schedule C in your personal Form 1040 tax return. On your federal tax return you do not identify it as an LLC. The LLC is disregarded for federal income tax purposes. The QBI deduction applies to any Schedule C business, whether or not it is an LLC. In the business income interview (probably near the end) TurboTax will ask you some questions to determine whether your business qualifies for the deduction.

At the time that you posted your original question, on November 14, the preliminary version of TurboTax had just been released, and it did not yet include the QBI deduction. The QBI deduction is in TurboTax now. Make sure your TurboTax software is up-to-date.