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When completing Turbotax, my Qualified Business Income deduction is quite low. I cannot see what is limiting it well below 20%. Anyone have any tricks?
My overall income is below the threshold to reduce.
My Business Income is from an S-Corp.
The deduction calculated is not close to the 20% business income.
I do have taxable income overall and likely will owe money when filing return.
My Business Income is from an S-Corp.
The deduction calculated is not close to the 20% business income.
I do have taxable income overall and likely will owe money when filing return.
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March 22, 2020
6:13 PM