How do you take the 20% self-employed pass through deduction using Turbotax Premier?

[grhegman]

When I first started entering information on my wife's self-employment business, Turbotax Premier prompted me to consider her business as a pass through entity which would allow the 20% earnings deduction on taxable income.  I did not choose this option, as I felt I could go back to it after I read more on this deduction.  However, I can't seem to find the option for claiming this deduction after I decided her business is a "pass through' business that is not excluded from this deduction (She has an after school teaching program, and only makes about $7,000 a year).

Could anyone tell me how to approach claiming this deduction in Turbotax Premier?

[mesquitebean]

Let me know if the info below works for you or not.

[mesquitebean]

@grhegman  Wait a minute.  The answer is for Home and Business.  I'll change it for Premier.

[mesquitebean]

@grhegman   I'm sorry.  I removed the answer completely since it was for Home and Business Edition..   I can tell you the steps and have screen images for the Home and Business product, but not Premier, which is a bit different..  And I don't have Premier to produce them for you.  I have online Premier, but it's quite a bit different than desktop Premier. So I'll see if I can get someone using Premier to answer in this thread.   Sorry for the confusion.    Keep watching this thread.

[rjs · Accepted solution]

You can't go directly to the question about Qualified Business Income (QBI). You have to step through the whole business income interview again. The question about QBI is at the very end. On the Business Summary screen, click the Edit button for your wife's business. Stepping through the interview is mostly a matter of repeatedly clicking Continue. It only takes a minute or two. When you get to the Business Expenses screen, you don't have to go through the details of the expenses. Just click Continue again. The next screen is the question about QBI. You can change your answer, then proceed through the follow-up questions.

This procedure is for the TurboTax Premier CD/Download software for 2018.