QBI Deduction not calculating

Forum|Forum|6 years ago
March 27, 2020
2 replies
0 views

Hello,

On my personal return, I have rental income on Sch E and it's not calculating the QBI deduction even after selecting "yes" to the question. Line 10 on my 1040 is blank. I looked at the Turbo Tax Smart Worksheet for Sch E (see attached pic) and the box where it would qualify for safe harbor is not checked. How do I check that box? I presume this is the reason it's not calculating the QBI deduction. I'm well under the income threshold for 2019.

Other items on my return include the following (if it makes a difference):

Small W2 income (unrelated to sch E)
401k Rollover (tax free)
Roth IRA conversion (taxable)
Sch D Capital loss
Sch A expenses
Dividends

Help!

TurboTax Premier Online

Best answer by DavidS127

Try to go back through the Step-by-Step interview for each Schedule E, and you will see a screen requesting Business name and EIN enter the name you are using for the rental property in the box for Business name. You don't need to enter anything in the EIN box.

You can do this in TurboTax Download/CD in Forms mode on the QBI Component form for each Schedule E by entering the name you are using for the rental property in the first box, "aggregate trade or business name".

DavidS127Answer

Level 13

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jtkbau

Level 2

I have a sole proprietorship in a service business. My profit this year is very small ($5000). The program is not calculating the QBI deduction, although it always has in years past. Is it because the profit is so low?

jtkbau

Level 2

To look at this in detail and to report a possible product defect, we would like to see a diagnostic copy of your return. The information in this file is a sanitized copy meaning there is no personal information, only numbers so that we can troubleshoot in depth, check for calculation issues, and to see how certain items are applied. Here is how to order.

For Turbo Tax online, go to tax tools>tools>share my file with agent. When this is selected, you will receive a token number. Respond back in this thread and tell us what that token number is.

If you use the desktop version, go to the black stripe at the top of the program, click on online, and then select send tax file to agent. Let us know what the token number is.

93258291-73656262

SwampYankee

Level 3

The software will not do it automatically and does not work. You need to go to the forms page for schedule C and click on the box that you are qualified for the QBI. Do not listen to ANYONE who says it does it automatically. It has not since the 20% was instituted. Are these people working for the IRS and trying to get you to overpay?