Adjustments to QBI

Forum|Forum|6 years ago
February 4, 2020
1 reply
15 views

I'm filling with turbotax self employed. I can't finish my taxes because of this message:

Check This Entry

Schedule C (Web Development): Adjustments to QBI - a value here is not yet supported in the program for the qualified business income deduction. This will be enabled in a subsequent release.

I'm not really sure what is it, but when I press continue it returns on previous screen and I can't file my tax.

Does it mean I have to wait until this will be available in Turbotax Self Employed? Any timeline?

TurboTax Self Employed Online

Best answer by Irene2805

Forms 8995 and 8995-A, the forms used to to calculate the amount of QBID, are not final yet. TurboTax will update the program after the IRS finalizes their instructions. After that update you should see the QBID on your tax return and you will be able to file.

For current information on forms availability, please click on this link: Federal forms availability [Note: Forms 8995 and 8995-A might appear at the bottom of the list, not necessarily in numerical order. ]

Irene2805Answer

Level 15

IamIntractable

Level 6

Now this has slipped to 02/20/20...why!

phflood

Level 2

I'm attempting to finalize my personal tax return today, 02/20/20, and I am still receiving the same message concerning my QBI calculation that certain expenses (i.e. Section 179, etc.) may be individually limited and those expenses are not yet supported. The forms website shows that the Form 8995-A is available as of today.

Anyone else been able to pass this hurdle?