m11
New Member

Retirement tax questions

On the Jack and Jill example you gave above it sounds like you are saying Jack's QBI is $10,000 based upon $50K self employment income.  However, when I do the calculation in Turbo Tax, the QBI is $7,000 based upon $35K SE Income ($50K- $15K Solo 401K contribution = $35K x .20 = $7,000.  Where did you get the $10,000 QBI Deduction?