Has the online self employed software been updated with 20% pass thru deduction? January 27, 2019

[thsmith786]

What about desktop TT update on 20% pass through deduction?

[MinhT · Accepted solution]

Yes, TurboTax Self-Employed online is current of all changes of the Tax Cuts and Jobs Act, including the 20% pass-through deduction (section 199A).

[dmertz]

If you entered self-employment income or Schedules K-1 before the latest release on 1/2/4/2019 you'll need to go back through the entry of the Schedule K-1 to permit TurboTax to establish the necessary linkages to the QBI-related worksheets.

[pmal06]

now i see it. thanks a lot!

[jennyva04]

I just entered my K-1 income (2/4/2019) and checked the QBI worksheet to see if the information transferred. The QBI worksheet was blank.  What should I do to make sure I get the 20% pass-through deduction?

[wajake41]

How and where do I see the 20% pass thru deduction on my schedule E LLC income?

[sodisco420]

Not sure about an LLC. Look at Line 9 form 1040 which is your Qualified Business Income. On your Form Schedule 1 form 1040 an amount was calculated on Line 36. The amount from Line 36 was subtracted from Line 6 Form 1040. This is the amount on Line 7 Form 1040. If Line 8 Form 1040 is greater than Line 7, your QBI is $0. I think this is a correct calculation for 20% pass through. If not, someone please correct me so I can amend mine. People talk about K-1 but not sure what that is. I filed 1099 self employed with some W2 income