Form 1041 and QBI

8 replies
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On my grand daughter's Trust return I am getting a mistake that says "Form 1041: QBI deduction on Form 1041 does not equal to the amount computed on the QBI deduction summary worksheet. Please review on Form 1041, Line 20"

I have not made any QBI deduction on my forms.

What is the problem?

TurboTax Business Windows

Anonymous_

Level 15

Which type(s) of income did you enter? If you enter Forms Mode, you can check Form 8995 and/or 8995-A, the latter of which is not ready for filing; look for any amounts on the form that appear in your forms list.

BigIronPgmr

Level 2

I am having the same problem on my late wife's trust for our children. There is only one IRS form, a 1099-DIV and that has been entered. I have also entered all information on distributions on from the trust, and TurboTax has created the Schedule K-1. All of the TurboTax "Federal Taxes" steps have been completed and the error message was from the "Federal Review" dialog.

DavidS127

Alumni - Intuit

A recent TurboTax update should fix QBI issues such as yours. But, reports are that forms with the QBI income (including QBI reported on Form 1099-DIV and Schedule K-1s received must first be deleted and re-entered.

Note that you don't necessarily elect to make a QBI deduction; some forms have "Section 199A" income that automatically generates a QBI deduction in TurboTax.

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