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Retirement tax questions
thanks VGirl, yes it is reported on schedule E by Turbotax. My schedule C is empty.
The way TTax works is: it makes you enter you rental income then it asks if it qualifies for QBI (it is a business and not an investment). At that point it creates a deduction but nothing happens to your schedule C which stays ZERO if it was ZERO. And obviously your schedule E.
So you are basically saying if SCHEDULE C is ZERO then IRAs are not permissible?
If that is the case, then: does that mean that the only way to do this is for my QBI to pay me so I can report a SCHEDULE C?
‎July 6, 2024
9:44 AM