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Level 1
posted Jan 24, 2021 2:50:09 AM

QBI Deduction

Hello,

Since the QBI form is not ready yet, can I back out of it?  I cannot find it in the walk through.  It wasn't very much in my case.  I'd rather get my taxes filed A.S.A.P..

Thanks

0 1 471
1 Replies
Level 15
Jan 24, 2021 11:02:01 AM

don't be in a rush to submit your return.  the IRS will not open e-filing until 2/12/2021.  until then any submitted returns will just sit on TT servers.  you will not be able to recall it .    since it takes the IRS about 3 weeks to process a return (maybe longer if Covid is causing staffing issues) don't expect your federal refund by direct deposit until early March.   even later if you're getting a check