topic qualified business income in Get your taxes done using TurboTax

qualified business income

galenaboy — Sat, 12 Sep 2020 16:37:02 GMT

I have turbo tax premier disc version. When I report my sub S corp. income, it is not being adjusted by the qualified business income credit--the QBI form continues to show 0.

Re: qualified business income

Anonymous_ — Sat, 12 Sep 2020 16:40:42 GMT

Does the K-1 you received from the S corporation have a figure in Box 17 with a V code?

Re: qualified business income

Anonymous — Sat, 12 Sep 2020 19:16:33 GMT

if there is info in the k-1 under 17v look at form 8995/8995A and the QBI component worksheet to see the calculation. if nothing appears on the component worksheet, then go onto forms mode and check the K-1 to see if the QBI info was entered in section D1