DavidS127
Expert Alumni

Investors & landlords

The $96,827 on line 2 of your QBI Ded Summary should show the total from the business(es) listed on line 1.

 

Note that your Schedule C income amount is reduced by any self-employed health insurance deduction and half of your self-employment tax to arrive at your QBI for that business.  That calculation for your return is $96,827, and you will see that on the Qualified Business Income Deduction Smart Worksheet after line 48 on your Schedule C form in TurboTax.

 

The $71,103 loss carried over from the prior year (should show on line 3 of the QBI Ded Summary) is subtracted from the $96,827.  The net is $25,724 and 20% of that is $5,145.

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