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Business & farm
The developers changed the calculation per the recently finalized regulation §1.199A-3(b)(1)(vi) to calculate QBI by subtracting the deductible portion of self-employment taxes and the self-employed health-insurance deduction. It seems that the employer portion of any self-employed retirement contribution should also be subtracted, but it seems that TurboTax is not yet doing this. TurboTax is doing this calculation in the QBI worksheet at the bottom on TurboTax's Schedule C form.
June 5, 2019
2:16 PM