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Business & farm
I go to Schedule C in the Business section of my return and see a business income of -$31,284.
In the Personal section of the return, it shows a QBI of only $52.00.
I thought the QBI was calculated by : -$31,284 X 20% = -$6,256.80, which would reduce my taxable income even further as I understand it, but it didn't do that.
‎July 8, 2020
7:25 AM