You'll need to sign in or create an account to connect with an expert.
I had the same problem. I have self -employed health insurance for the business. On the smart worksheet for Schedule C "Qualified Business Income Deduction Info" this amount, plus the deduction for 1/2 the self employment tax are both deducted from my net business income to arrive at the Qualified amount. Apparently, even though these amounts are adjustments to income on my form 1040, they are considered a reduction of net income from my business for this calculation.
I had the same problem. I have self -employed health insurance for the business. On the smart worksheet for Schedule C "Qualified Business Income Deduction Info" this amount, plus the deduction for 1/2 the self employment tax are both deducted from my net business income to arrive at the Qualified amount. Apparently, even though these amounts are adjustments to income on my form 1040, they are considered a reduction of net income from my business for this calculation.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
taxbreak1004
Level 2
Tr221
Level 2
GottaPayMyTaxes
Level 2
cmac5
New Member
mcgheero
Level 1
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.