Dear Experts,
I was reviewing my tax return under the review tab on the TurboTax software. I was in the subsection fix errors. I accidentally marked some rental income as QBI. However, I should have marked it no. But since I hit the continue button in the software in the review section. I am now unable to fix that. Please see the screenshot for reference where I accidentally marked it yes. (This screenshot is taken from a question on similar topic on the Community so it is showing marked as "No". But I actually marked it "Yes").
Please tell me how can I fix this? I am using this on Mac
Thanks,
Within the rental activity, select QBI or Qualified Business Income.
At the screen Let's see if you're eligible for the QBI safe harbor. select No, I don't or can't (common).
At the screen Is this Qualified Business Income? select No, this income is not qualified.
Hi @JamesG1 , Thanks for the response.
I do not see QBI income section within the rental activity section. I see that only under the section less common business situation.
It is in the rental activity and the answer must be changed there. When you edit beside your rental activity you will scroll down to 'QBI' then select Qualified Business Income and edit beside that. See the images below.