I am a sole proprietor. I have a solo 401 K but for purposes of this question I am not entering a contribution to it. If I enter 7000 as a contribution to a traditional IRA for my wife, Turbo tax is entering this on line 19 of schedule 1. This is reducing my qualified business income and thus my QBI deduction. First my wife is not a part of my business and has her own income source (SSI). Is this right? Maybe the rules changed this year but I ma reading things saying that a traditional IRA contribution should not reduce QBI
I could this as reasonable it if I contributed 7000 to a traditional IRA instead of my solo 401K as i have no W-2 income. Should I be able to also contribute to a traditional IRA without reducing my QBI
