QBI

[TEDNYS]

I'm a sole proprietor filing a Schedule C in TurboTax Deluxe. I'm trying to figure out why QBI calculation says my Taxable Income is only $40. If that were true, I wouldn't need to file a tax return. Anyone else experiencing this issue?

[Mike9241]

maybe it's income for the QBI deduction form 8995 computation. Schedule C income is reduced by 1/2 the SE tax, self-employed health insurance deduction and retirement plan contributions to arrive at QBI.  if you have pass thru entities perhaps they have QBI losses that would offset the schedule C

[TEDNYS]

Thank you!

[TEDNYS]

Very much appreciated!