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QBI calculation
I am confused by the difference in Net income on Schedule C and the QBI amount on form 8995. I have a small tutoring business in addition to my main job, and am reporting income from this business on Schedule C. I expect the QBI amount on form 8995 to be the same as net profit on Schedule C line 31, however it is actually about ~$500 less. What is the reason for this? Is there a way to see how TurboTax calculated the QBI?
March 19, 2023
11:23 AM