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bpepoon
New Member

QBI deduction is still not working in TT Premier.

And none of the posted solutions work (such as checking Box 17). What am I supposed to do? Right now I will end up paying 20% more in taxes because TT software is not working correctly. I am so desperate that I will probably just override some settings if I can't get any help. Been on hold for over an hour!

My wife and I own an LLC and TT Business has already generated K-1s for both of us. But when I try to open up the QBI worksheet it says that I don't qualify for the deduction. Yet the IRS website makes it quite clear that I do.

2 Replies
CaronM
Level 2

QBI deduction is still not working in TT Premier.

In order for QBI to calculate on income from a K-1, you have to enter the details from box 20, such as code Z. Without these boxes being completed, the program has no way of calculating your deduction.

hcmcfarland
New Member

QBI deduction is still not working in TT Premier.

Where do I insert code Z in TT?

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