Using TurboTax Business for my S-corp. I've tried to reduce my issue to the simplest case.
I've entered my business income in the income section. Under deductions, I've entered my wages paid. I've pushed "Done with deductions" to step forward. I enter my dividend distributions during the next few questions. I continue to the QBI section. I say "Yes, this income is QBI". On the next page, I say "No, this business receives no more than a deminimis amount of income from these specified services." On the next page, it shows my "Ordinary Business Income", which is the amount of the original income entered, minus the wages. It also shows my "Wages".
Now, if I switch to forms, in Box 17, I get a code V which refers to the Schedule K Statement A which shows the amount of "Ordinary Business Income" under QBI. However, the Statement A does NOT have a code W which reflects the wages paid.
Should it not have a code W and the amount of wages paid?
I ask this, because I am not getting the QBI deduction in TurboTax Deluxe when I am entering my Schedule K information, and thought this might be part of the issue.
Thanks!
