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laelsmoon
New Member

QBI simplified worksheet amount on line 1c - cannot find where that number comes from. Net schedule C = 17181, line 1c shows 1421. AGI is 63,366. How is the 1421 calc?

 
6 Replies
TerryA
Level 7

QBI simplified worksheet amount on line 1c - cannot find where that number comes from. Net schedule C = 17181, line 1c shows 1421. AGI is 63,366. How is the 1421 calc?

Review that calculation on the QBI Component Wks for that business.

laelsmoon
New Member

QBI simplified worksheet amount on line 1c - cannot find where that number comes from. Net schedule C = 17181, line 1c shows 1421. AGI is 63,366. How is the 1421 calc?

What does your answer mean?  Component worksheet does not show how the number was calculated.
TerryA
Level 7

QBI simplified worksheet amount on line 1c - cannot find where that number comes from. Net schedule C = 17181, line 1c shows 1421. AGI is 63,366. How is the 1421 calc?

Ah, well yes, I see what you mean. Some preliminary calculations are performed at the bottom of the Schedule C, in the "QBI Deduction Info" Smart Worksheet. I incorrectly assumed you had already looked at that.
laelsmoon
New Member

QBI simplified worksheet amount on line 1c - cannot find where that number comes from. Net schedule C = 17181, line 1c shows 1421. AGI is 63,366. How is the 1421 calc?

Still don't get it.  There are no QBI calculations shown on the turbo tax schedule C. Also looked at the schedule C supplemental forms (depreciation and AMT and others ) and  still don't find a place that shows how QBI amount from line 1 is calculated.  Did as search, all it shows are the worksheets that start with the number of 1421 - no explanation of where it comes from.
TerryA
Level 7

QBI simplified worksheet amount on line 1c - cannot find where that number comes from. Net schedule C = 17181, line 1c shows 1421. AGI is 63,366. How is the 1421 calc?

The QBI stuff on the Schedule C are "Smart Worksheets" and print out separately "for your records". If you have a Desktop version of TT then you can use Forms Mode to see it at the bottom of the Schedule C.
laelsmoon
New Member

QBI simplified worksheet amount on line 1c - cannot find where that number comes from. Net schedule C = 17181, line 1c shows 1421. AGI is 63,366. How is the 1421 calc?

Thanks!!!  Finally found it.  Will study a bit.  Appreciate the help.
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