Qualified Business Income Not Included on Form 8995

[ericinmaryland]

Turbotax for business does not calculate QBI. Thats done in personal tax products. 

[AmyC]

Form 8995 is released and available but there may be a work around needed for you.

• If you have an aggregation, you will need to print and mail.
• If you are using desktop, you will have to call in and have a download pushed.  Please use the following link for a customer support number.

[Katy]

So, I do not qualify for the QBI deduction because I do not spend 250 hours actively managing.

Neither does my husband (we have an LLC, and a property management company).

But TT computes the QBI deduction anyway.  I've tried deleting the forms, changing individual fields that list REIT amounts and re-entering my K1 data say no to all passive questions.

Still I cannot get my return to efile.

If I can't get the return to efile - can I get a refund on some of fees I gave TT via credit card to do?

[DavidS127]

Although it doesn't address your specific question, you should note that the hours spent by the rental management company you pay "count" toward the "250 hours" test.

If you don't believe you qualify for the "rental safe harbor", take a look at the Schedule E Wks for the rental.  Find your Schedule E Wks and scroll down just past line 22 to find the Qualified Business Income Deduction Smart Worksheet. Check question A to see if the "Is this activity a qualified trade or business" question is answered Yes or No.  And, see if the box is checked  for  "This rental qualifies as a business under the safe harbor requirements of Notice 2019-07".

If you are using a Download/CD version of TurboTax, you can look at these forms in Forms mode (icon at top right in blue bar).  Look in the left column to find the form, and when you click on it the form will open up in the window.

If you are using TurboTax Online, you'll need to "print or preview" a PDF of your tax returns with the worksheets to perform this analysis.

[Jarako]

Is it because I am using the Deluxe version that QBI is not calculated for Form 8995?