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Trying to claim Qualified Business Income (QBI), but TT is asking me about qualified coop payments on 1099-PATR. Is this required? I only have 1099-MISC's

 
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3 Replies

Trying to claim Qualified Business Income (QBI), but TT is asking me about qualified coop payments on 1099-PATR. Is this required? I only have 1099-MISC's

You may have something erroneously entered in that section.  To check:

1.  Click Federal on the left-hand side menu.

2.  Click Income & Expenses across the top.

3.  Scroll down to Rentals, Royalties, and Farm and click Show more.

4.  Click Start or Revisit by Farm Income and Farm Rental.

Click Update by Livestock, grain, produce, custom work, co-ops.

If you don't have a 1099-PATR, delete any entry in here.

If that doesn't work, please post back here.

Trying to claim Qualified Business Income (QBI), but TT is asking me about qualified coop payments on 1099-PATR. Is this required? I only have 1099-MISC's

Nope didn't work. I'm on the desktop version of TT and clicking "Farm Income and Farm Rental" doesn't give me the option to update "Livestock, grain, produce, custom work, co-ops". I also checked and don't have any Schedule F forms. Can I just leave the "qualified coop payments on 1099-PATR" blank and move on or will it put my return at a higher risk of audit?

Trying to claim Qualified Business Income (QBI), but TT is asking me about qualified coop payments on 1099-PATR. Is this required? I only have 1099-MISC's

if you've not received any 1099-PATRs and don't have any farm income, then leave it blank.
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