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snoopy77
New Member

QBI deduction not correct

hi, I have a business that qualifies for QBI. the deduction is higher than $1; however, TT is only allowing the $1 deduction, is this a glitch? or how can this be corrected. Thank you

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1 Reply
AmyC
Expert Alumni

QBI deduction not correct

A couple of thoughts:

  • Your income is limiting the deduction
  • you have a loss carrying over from last year 

Look at the form 8995 and see why it is limiting your deduction. To print or view  your forms, including all worksheets:

  • In desktop, switch to Forms Mode. 
  • For online:
    1. On the left side, select  Tax Tools
    2. Select Print center
    3. Select Print, save or preview this year's return
    4. If you have not paid, select pay now.
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