Has turbotax put the 20% pass through deduction into their software yet? I don't see it calculated and I'm almost certain I qualify. I am a sole-proprietor.

[cowel1]

I agree. Did taxes yesterday with S-Corp earnings and no Line 9 entry by TT.

[cowel1]

I agree. Did taxes yesterday with S-Corp earnings and no Line 9 entry by TT.

[igor_novak]

It is April already. Still can't find it. I was trying to enter V into Box 17 of K-1 - THERE IS NO SUCH OPTION!  I am using Online Premier version. Does anyone know if it is available in Online Self-Employed version?

[tom15]

I am not getting credit either. Something must be wrong.

[igor_novak]

I found it. K-1 1065 - Box 20 Codes Z through AD

[tom15]

Brilliant Igor!! Thank you!

[ezrak1234]

Nice Igor. This works when it's a partnership.

[igor_novak]

Box 17 Code V

[igor_novak]

That is K-1 Form 1120S (S Corp) ?

[jennycouncil]

4/14/19 and it still doesn't work. TT support spent 2h with me today trying.  Then they said I have to give up on the online version and do the desktop version.  Now the download is not available even though I'm supposed to have download with Small Business edition, and despite completing my taxes days ago, I CAN'T FILE.   First and Last time I ever use TT.  I hope they have a class action suit about this - I"m sure millions of small business owners are failing to get this deduction, and being new, many probably don't even realize.   What a shoddy product (I'm a sole proprietor)

[alalssecnirp]

Jennycouncil thank you -- I have been fussing with this all evening. do you know of any other reputable on line filing services?   

[jennycouncil]

I used to use TaxHawk, free and pretty good.  Only problem for me was it couldn't handle some foreign things like 1116 but they may have fixed that, i'm not sure.  For basic stuff it is pretty friendly.

[jennycouncil]

QBI seemed to work on the offline version; perhaps it worked online, but I couldn't tell and neither could one of the good support cpa's who looked at the QBI worksheet.  now with offline version it asked more questions and there is stuff in the form which I can flip to easily.  Hope its right!

[Anonymous]

note that some sole proprietorships may not qualify (certain service providers)  others will find the deduction may be less than 20% due to phaseout because taxable income is too high.    even after TT has the QBI in the program, I expect hundreds of questions because the results won't be 20%   

[cleverlyengaged]

I am actually seeing that it is now calculated. What you need to do, is completely finish your business income section and click continue. There should be no "review" prompt or warning. TurboTax will then ask if the work you performed for your self employed job was in the United States. After clicking yes, you'll see your discount automatically applied if your industry is included in the QBI deduction (mine was marketing consulting).

I never found a worksheet either, but I assume it is the QBI being applied. My refund went from $1500 for federal to $3500 for Federal as soon as I finished the business income and expense section of TurboTax.