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jepoulsen
Level 1

QBID

Are there step by step instructions for filling out the QBID worksheet?  I accessed the worksheet via 1040 line 10, but TurboTax won't let me enter information.

4 Replies
Anonymous
Not applicable

QBID

in forms mode, you can go to the worksheet for the entity from which you will derive the QBID deduction.

it could be schedule C, E,  or a k-1. on the worksheet there is a section to enter the info.  on schedule C it's just below line 48. on a partnership k-1 it's section d1 and d2 (in d1 it says shareholder share. it should say shareholder or partner share) this is where you enter the QBID info for ordinary income, W2 wages and UBiA (unadjusted basis in assets).  there are similar sections for schedule E and other types of k-1's.

tagteam
Level 15

QBID


@Anonymous wrote:

in forms mode, you can go to the worksheet for the entity from which you will derive the QBID deduction.

it could be schedule C, E,  or a k-1. on the worksheet there is a section to enter the info. 


At least one of those schedules, Schedule C, is non-fillable; it requires overrides.

 

Manual entries on K-1s should work, however.

 

Anonymous
Not applicable

QBID

are you sure about schedule C. I have it and am using the desktop deluxe version, I had no problem filling in schedule C or the QBID info below line 48.

for A use quickzoom to link

B&C automatic

D needs to be answered

E1 automatic from net income on schedule C

others lines may need entries. 

 

tagteam
Level 15

QBID


@Anonymous wrote:

are you sure about schedule C. I have it and am using the desktop deluxe version, I had no problem filling in schedule C or the QBID info below line 48.


I am certain about Schedule C except I can easily fill in the section to which you are referring if I indicate that the income is qualified business income in Step-by-Step Mode. However, if you can so indicate in the interview, why bother using Forms Mode?

 

Regardless, unless I check the box in Step-by-Step, the section of Schedule C (and worksheet from the link) cannot be completed without resorting to overrides.

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