myshlp1
New Member

Business & farm

Thank you so much for the insight.  

 

The item I am struggling with is somewhere inside this article ...

1 - Filing jointly with taxable income well below $315,000 threshold at which QBI deductions based on net income comes into play.

2 - I am in a business that DOES QUALIFY for QBI.

 

When it says at incomes below that level, the deduction is 20% of either taxable income (minus capital gains and dividends) or the QBI, whichever is less.   


I did come across a few interesting things that may help others.  

https://taxschool.illinois.edu/qbi.html

https://bradfordtaxinstitute.com/Tools/199A-Calculator/

 

I want to ask pointed questions but I have answered most of those thanks to your help, independent research, and playing with some calculation tools. 

 

Nothing is illuminating why the QBI is calculating so low in Turbotax for me

 

Maybe I will try running my Tax Analysis with another software to see if it is, in the end, a Turbotax bug.

 

Thank you.