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Level 1

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

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

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Level 10

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

MANY areas of the program are NOT functional including that one ... 


These first releases of the program are usually very buggy ( you are the beta testers even if you don't know it) and will require MANY updates before it becomes fully functional which usually will not happen until late January or sometime in February depending on the forms you need.  So patience will be needed as the IRS has not even announced when the 2019 filing season will start

 

This  past tax year, not only did the IRS have to rewrite a ton of tax code due to the late changes made in Dec of 2017  but the fools in Congress required they also toss out all the old 1040 forms  for the new "1040 Simplified" version ( which is anything but simplified since it adds 6 new schedules) and  all these changes have the IRS way behind the normal timeline so expect things to not only run late but they will be VERY BUGGY so the smart money is on the patient person who waits to file until most of the errors have been corrected.  Last time this happened many of the early filers had their returns lost or delayed for months so don't be in a hurry to jump off that cliff.


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Level 20

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

Linking of SE income to a QBI Worksheet has not yet been implemented.
Level 20

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

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 1

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

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.  
Level 10

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

You are posting on a conversation that is 2 months old ... things have changed since then.
Level 1

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

Has turbo tax been updated yet with the Qualified Business income deduction functionality?  When will we know if it is updated?
Level 20

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

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.
Level 1

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

Really, I'm not seeing that update.
Level 1

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

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
Level 1

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

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