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Returning Member
posted Jan 15, 2020 4:57:29 AM

I can't get the QBI deduction to trigger after inputting my K-1 income. I have box 20 filled in correctly with the appropriate boxes complete from TT documentation.

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5 Replies
Expert Alumni
Jan 15, 2020 7:26:00 AM

One reason you aren't getting a Qualified Business Income (QBI) deduction may be due to the fact that you don't qualify.

You may also want to delete the K-1 and re-enter it.

Returning Member
Jan 15, 2020 9:13:29 AM

I have deleted and re-added my K-1. My income is under the $315k from all sources–not just the K-1. It just won't trigger the screens asking me the qualifying questions about the QBI deduction no matter what I do. 

Expert Alumni
Jan 16, 2020 11:51:44 AM


For 2019, there is a new form for calculating your Qualified Business Income Deduction. It is Form 8995. 

 

The IRS has not released the final version of this form, so it is not in Turbo Tax yet.

 

If you would like to look at the draft version on the IRS website, click here.

New Member
Jan 16, 2020 1:56:58 PM

The most recent TurboTax update "broke" the QBI deduction. The 8995 actually is in TurboTax, but isn't getting filled.

Expert Alumni
Jan 16, 2020 3:20:00 PM

For 2019, there is a new form for calculating your Qualified Business Income Deduction. It is Form 8995. 

 

The IRS has not released the final version of this form, so it is not in Turbo Tax yet.

 

If you would like to look at the draft version on the IRS website, click here.