QBI Deduction not added

Forum|Forum|3 years ago
April 16, 2023
2 replies
20 views

I received the QBI deduction last year. I made even less this year than last, but the deduction is not being added. Why is that?

ShirlynW

Level 8

There could be several reasons the deduction in not being added. Without seeing your return, I cannot give you a definite answer. What type of business structure do you have? Do you have passive income?

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quentajeAuthor

Level 2

My business is a single-owner LLC. I have some income from dividend stocks, though it's not much (less than $50) and I had that last year as well. That's why I'm confused. Nothing has changed from last year to this year other than to have lower income/profit from my business, which is my only source of income (other than the dividend stocks).

ShirlynW

Level 8

QBI does not include items such as:

Items that are not properly includable in taxable income
Investment items such as capital gains or losses
Interest income not properly allocable to a trade or business.

For more information refer to this TurboTax "Help Article."

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Mike9241

Level 15

you'll need to look to form 8995 or 8995A to see what's going on. that's where the computation is made. if it's blank perhaps you did not check the box that the activity qualifies for the QBI

Mike9241