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59station
Level 2

Does flipping house profit qualify as QBI deduction?

I entered it in TurboTax as Sales of business property. But TurboTax does not include it in the QBI calculation. I searched online and found this post: https://learn.fundthatflip.com/real-estate-investing-blog/how-the-2018-tax-law-changes-will-affect-y.... It says the flipping house profit should be counted in QBI. Can anyone from TurboTax help me? By the way, our taxable income is below $315K filing jointly. Thank you very much.

3 Replies
Anonymous
Not applicable

Does flipping house profit qualify as QBI deduction?

on schedule C you got to drop down on the form and complete the QBI questions. 

Anonymous
Not applicable

Does flipping house profit qualify as QBI deduction?

 
59station
Level 2

Does flipping house profit qualify as QBI deduction?

Thank you very much!

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