I am new to TT software. I used mostly the step by step. I can't figure out if there is a glitch in software or if I am doing something incorrectly. My understanding is if I have Accounting 1099 income that would be possibly reduced as this is SSTB type business. Which it seems to do correctly. Then I have 2 rental properties that I am still trying to figure out where I fall under IRS rules but lets say they are QBI, both of them have losses , I click the correct button to say YES QBI, one of them calculated a QBI calculation as if it was a gain ? even though I am showing a loss and gives me a QBI deduction on 1040(with applicable threshold calculations) and the other property loss brings through a zero and ignores the loss calculation not impacting QBI in any way this year. Am I correct in saying if I decide that these 2 properties meet the QBI rules this year and both have losses , they should be ignored in the software for QBI (no increase or decrease of QBI) and just be recorded as a loss carry forward on form 8582? Is there any reason one loss would give me QBI deduction (and subsequently increase my refund ) and the other loss do nothing?
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i'll bet there is a minus sign in front of the number you're seeing for QBI after you answer YES.
Yes I think there was because it is a loss and the system pulled it from schedule E. So am I correct in understanding that the system does not know better when using detailed walk through questions? That a loss should not generate a 20% QBI deduction.
Because when I clicked yes to test it for the other property which also has a loss (not in the walk through questions) it put in zero and did not calculate a QBI, it ignored it.
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