topic Qualified Business Income Deduction in Get your taxes done using TurboTax

Qualified Business Income Deduction

jle7905 — Mon, 03 Feb 2020 03:06:45 GMT

TurboTax Home & Business is calculating the Qualified Business Income Deduction and filing Form 8995 even though I have no business income and do not qualify for this deduction. How do I prevent TurboTax from calculating and filing this business deduction?

Re: Qualified Business Income Deduction

Critter — Mon, 03 Feb 2020 03:11:15 GMT

Do you have any 199A entries on any 1099-div or K-1 forms ?

Re: Qualified Business Income Deduction

jle7905 — Mon, 03 Feb 2020 03:16:43 GMT

I do have a small amount of 199A dividends but this is a personal return, not a business return.

Re: Qualified Business Income Deduction

Critter — Mon, 03 Feb 2020 03:19:01 GMT

News flash ... you DO get it ... it is passed thru on the dividend statement. If you do not want it then simply do not enter that amount from box 5.

Re: Qualified Business Income Deduction

jle7905 — Mon, 03 Feb 2020 03:23:20 GMT

gotcha, thanks!