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

Forum|Forum|7 years ago
June 6, 2019
38 replies
134 views

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

TurboTax Deluxe Windows

dmertz

Level 15

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

dmertz

Level 15

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.

pjn

Level 4

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.

Critter

Level 15

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

greints1

Level 2

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

dmertz

Level 15

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.

ihatetheirs007

Level 2

Really, I'm not seeing that update.

tygressk

Level 2

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

rmackowsky

Level 2

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

ihatetheirs007

Level 2

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.