Upon review of my taxes, TT found an error saying that Schedule E for one of my rentals (in my primary residence) requires link to QBI worksheet because "yes" was selected for QBI deduction qualification. However, that is incorrect - I selected "no" for QBI deduction qualification for this property because it's my primary residence hence it doesn't qualify. In fact, when I go to this property's summary under Rentals, it doesn't even have a QBI section (which my other two rentals do), so there is no reason that the actual backend Schedule E form should have "yes" selected and there is no way for me to edit the form directly.
Please help me fix this so that I can actually file my taxes.
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go back to the property
continue through until you see a page that says your profit or loss results so far xx,xxx
click continue
now you're on a page that asks if you qualify for the QBI safe harbor
answer the question do you want to take the QBI safe harbor. answer NO
click continue
next page asks "is this qualified business income" - your position is it's not so answer NO
click continue. there should no longer be a QBI calculation for this property
@Mike9241 Thanks for your reply… Unfortunately I have gone through the entire Rentals flow for this property multiple times and there is no page where it asks me if this is QBI income. How do I get to this QBI question for this property? As I mentioned in the original post, this is the only property that doesn’t have a QBI section at the bottom of its summary page in Rentals section. The other two properties do have that page asking if I want to take the QBI safe harbor. But the one that has the error doesn’t ever ask me so that is why I am confused where and why it’s Schedule E shows “yes” radio button marked.
Please help me figure out how to correct this.
Sorry my suggestion didn't work. I use a desktop version but used the step mode similar to what online users must use. just going through the property step by step brought me to the QBI questions. I don't know why you can't get to them. they should appear for each property. how did you answer the real estate professional question? if yes that may be the cause. if not you'll need to contact support. You can screen share so they can see your actual input
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perhaps if you have multiple properties you have to go through every one until you reach the QBI questions - NOT SURE
Hello - No I am not a real estate professional so that box is correctly selected as “no” in my info section.
Any higher level tech support that can look into this? There seems to be a bug in TT where the front end flow seems to correctly show that this 1 rental property is not QBI, therefore not showing any of these questions or populating this section. But the back end Schedule E Form seems to think it is. How can that data be fixed on the back end?
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