Form 8995 starts with "Net QBI" in cell 1(i)(c) (near the top). Where is the TurboTax worksheet that supports this calculation? Have tried searching for it in Forms view and Print view, and none of the documents with "QBI" in the name show the actual calculation to get to "Net QBI". The ones I found all start with the Net QBI number (QBI Component Worksheet, QBI Deduction Summary). Thx.
There are two worksheets. Please see the screen shot below. Shown to the right of the list is the Summary.
ColeenD3, thanks for your reply, but my original post mentioned the two worksheets, including the one in your reply. My question remains, how is the number in Line 1, "Net QBI", calculated and where is the TT worksheet that shows the calculation steps to get to Net QBI? I've tried backing into it, but have so far been unsuccessful.
Please see this answer from DanielV:
I have the same concern. I have income components from a K1 and Schedule F. The combined income minus the allowable deductions does not equal the net QBI per TT calculations. I cannot find a worksheet that explains how they calculated the net QBI. I know how to calculate it, but I am trying to find how TT is getting a different number than I am.
The QBID calculations take place on IRS Form 8995 or 8995-A.
Other worksheets that you may find are:
You will find these forms in both the online and desktop versions of TurboTax.