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JamesG1
Employee Tax Expert

QBI Deduction not calculating

Is there a entry on line 13a of the IRS form 1040?  If the Qualified Business Income Deduction is $0, does the property report a net income?

 

Does the tax return contain an IRS form 8995 or IRS form 8995-A?  If the tax return does contain this form, is the rental property income listed under line 1?

 

What income or loss is reported?  Please clarify.

 

@maggy7 

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maggy7
New Member

QBI Deduction not calculating

13a says 0.

Property has an approximate net $4600 income.

 

No Form 8995.

 

Airbnb income, expenses include maintenance/repairs/real estate tax/mortgage interest/misc/property depreciation. 

QBI Deduction not calculating

TurboTax generlly assume an activity does not qualify for QBI, so there is a check box to say it does. it reads something like a qualified business under 199A. In addition, certain info must be entered in the QBI section of the TurboTax form

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