topic Correction: Select Forms and select "QBI income component... in State tax filing

Qualified business income deduction - are the QBI worksheets functional that support ln 9 of 2018 1040? TT did not link SE income to QBI ded summary and qbi worksheet

John-Kristin — Thu, 06 Jun 2019 06:20:04 GMT

But cannot enter anything other than activity and net income unless override to qbi ded summary.

Linking of SE income to a QBI Worksheet has not yet been...

dmertz — Thu, 06 Jun 2019 06:20:05 GMT

Linking of SE income to a QBI Worksheet has not yet been implemented.

Today's update added linking of Schedule C to a QBI Compo...

dmertz — Thu, 06 Jun 2019 06:20:07 GMT

Today's update added linking of Schedule C to a QBI Component worksheet, but for those with taxable income under $315,000 filing jointly or $157,500 for other filers the calculation is producing an erroneously inflated QBI deduction amount. More updates are needed before the QBI deduction amount can be used by these individuals.

I just performed a what if simple scenario on a Schedule...

pjn — Thu, 06 Jun 2019 06:20:09 GMT

I just performed a what if simple scenario on a Schedule C with basic amounts below the threshold of an SSTB business to test TT and it worked correctly. The key is to link QBI worksheet business income component to a worksheet at the bottom of Schedule C additional information. I performed the calculation manually first to ensure I would get the correct result.

You are posting on a conversation that is 2 months old .....

Critter — Thu, 06 Jun 2019 06:20:10 GMT

You are posting on a conversation that is 2 months old ... things have changed since then.

Has turbo tax been updated yet with the Qualified Busines...

greints1 — Thu, 06 Jun 2019 06:20:12 GMT

Has turbo tax been updated yet with the Qualified Business income deduction functionality? When will we know if it is updated?

TurboTax for individual tax returns now appears to have a...

dmertz — Thu, 06 Jun 2019 06:20:14 GMT

TurboTax for individual tax returns now appears to have all of the necessary functionality for the QBI deduction for all types of pass-through entities. Be sure to go back and step through all of the entry pages for your particular pass-through entity so that the proper linkages are established.

Really, I'm not seeing that update.

ihatetheirs007 — Thu, 06 Jun 2019 06:20:15 GMT

Really, I'm not seeing that update.

It still will not give me a option to fill out the QBI, a...

tygressk — Thu, 06 Jun 2019 06:20:17 GMT

It still will not give me a option to fill out the QBI, add link to complete my return which is all i want to do, HELP

Some problem here - no QBI despite starting over. What's...

rmackowsky — Thu, 06 Jun 2019 06:20:18 GMT

Some problem here - no QBI despite starting over. What's the deal?

Crap software is the deal. They need to release the updat...

ihatetheirs007 — Thu, 06 Jun 2019 06:20:20 GMT

Crap software is the deal. They need to release the update/patch for the issue. My guess is they haven't yet. They get 2 more days before I print the returns, take them to a tax pro and have amex cancel my payment.

According to Intuit and HR Block, the IRS has not approve...

barbie2 — Thu, 06 Jun 2019 06:20:21 GMT

According to Intuit and HR Block, the IRS has not approved the QBI worksheets yet.

anyone able to get by the QBI link issue

eddiel — Thu, 06 Jun 2019 06:20:24 GMT

anyone able to get by the QBI link issue

Apparently the QBI link issue is still not working proper...

teehoyt — Thu, 06 Jun 2019 06:20:26 GMT

Apparently the QBI link issue is still not working properly..Are we going to get a notice when it's avail?

I do not qualify for the QBI and I still can not file my...

connie-massey2 — Thu, 06 Jun 2019 06:20:27 GMT

I do not qualify for the QBI and I still can not file my taxes!

Anyone knows when will the QBI link be available to compl...

nuttyh123 — Thu, 06 Jun 2019 06:20:29 GMT

Anyone knows when will the QBI link be available to complete taxes?

So annoying. QBI is working, but it's reducing my QBI fro...

cgehly — Thu, 06 Jun 2019 06:20:30 GMT

So annoying. QBI is working, but it's reducing my QBI from my two business 92.9%. I cannot find anything about this in any of the instructions on IRS.gov. Yet another glitch in the turbo tax software??

Sorry cgehly above for your annoyance. I finally discove...

ses604 — Thu, 06 Jun 2019 06:20:32 GMT

Sorry cgehly above for your annoyance. I finally discovered that this QBI deducation is way more complicated than it seems. I tried to make a maximum deduction to my Solo 401-K and guess what? It affects my QBI. Found this article by searching Google "How The New QBI Deduction-Reduction Ruins The Value Of Pre-Tax Retirement Plans For Small Business Owners" - Read it if you like or anyone else who is trying to take both deductions: <a rel="nofollow" target="_blank" href="https://www.kitces.com/blog/199a-qbi-deduction-reduction-small-business-owner-retirement-plan-contributions-roth/">https://www.kitces.com/blog/199a-qbi-deduction-reduction-small-business-owner-retirement-plan-contributions-roth/</a>

I have redone the interview for business income and answe...

dyons — Thu, 06 Jun 2019 06:20:33 GMT

I have redone the interview for business income and answered all the final questions about this being a qualified business. I see in the schedule C worksheet at the bottom a link to the QBI worksheet for my business. However, when I go to the worksheet is shows "0". Is the QBI deduction still not working, or have I done something wrong? Can anyone help, please?

Dyons - I'm not a tax expert, but I was having similar is...

ses604 — Thu, 06 Jun 2019 06:20:33 GMT

Dyons - I'm not a tax expert, but I was having similar issues until I discovered there is some connection in my own circumstance between QBI and my 401-K contributions. See my comment above yours. Someone else made comments in this Forum somewhere how other instances affect the QBI bottom line. I'm starting to consider consulting a Tax Expert after I print my Turbo Tax return, to be sure. I don't blame Turbo Tax - I blame the new complications imposed upon us by the tax law changes because there are many more nuances in the law than I have had time to learn. I would welcome more responses in this Forum to hear others' experience.