Turbo tax is not calculating my QBI deduction and it should be doing that.

[VFitzgerald]

The dividends are being reported as section 199A dividends by Vanguard on the 1099-DIV. Turbo Tax software is picking this number up as PTP dividends and calculating QBI deduction using this number.  While this is correct, Turbo Tax is not offsetting the 199A dividends against the negative net income from the MLP.  How can I make this happen?

[ThomasM125]

You are not allowed to net PTP losses with 199A dividends per the following from the IRS:

Here is the article:

Netting QBI component losses with PTP income

[janell444]

I did not submit my 2021 taxes yet because Turbotax is not giving me the Qualified Business Income (QBI) deduction. My Form 1040 line 13 is blank and I don't know why. My business has been eligible for QBI deduction ever since it was instituted. 

Is someone able to help me please? Thanks!

[SwampYankee]

I have not used the current version yet.  I bought it and haven't gotten into it much but in previous versions, you need to go into forms and manually click the QBI square if it does not do it automatically.  Turbotax software is the buggyiest mess I have ever dealt with. 

[AnnetteB6]

Try revisiting your Schedule C information for your business. 

If you have an overall profit for the year, there should be some questions after you have entered all of your income and expenses that pertain to the Qualified Business Income deduction.  

@janell444

[LBRS]

@SwampYankee Thanks for this post as I am finding that you are correct. For some reason I cannot locate where I'm supposed to click the box saying that I am qualified for QBI. If you have any additional description that would be wonderful. I am new to TurboTax this year, and this is the only thing that I cannot work out. Thanks again for posting!

[AliciaP1]

There's no actual box for QBI in TurboTax 2021.  After you have entered your business income there are a few questions that, when answered correctly, lead to TurboTax calculating your QBI Deduction.  If you have already entered your business income you can follow these steps in TurboTax Online:

1. Within your tax return click on Income & Expenses at the top of the screen
2. Click Edit/Add for your self-employment income
3. Click Edit for the line of work
4. On the Here's your info screen scroll down to Qualified Business Income and click Details
5. Proceed through and answer all the questions

@LBRS

[frustartedinnaz]

I had same problem as I received letter from IRS stating that they changed my return as  it had errors and as a result I am due a refund! That was great but the errors were QBID was figured incorrectly. Also, because there was an error in the computation of taxable amount of my Social Security benefits.

These "errors" have to be caused by TurboTax as I entered correct figures which TT them miscomputed.

[DJC45]

Schedule C

[DJC45]

I am on the Business Profile for my business in Turbo Tax Home & Business but I don't see any queston re QBI

[DJC45]

Where do I note for the QBI?

[mesquitebean]

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@ DJC45  wrote:

I am on the Business Profile for my business in Turbo Tax Home & Business but I don't see any queston re QBI

---

I believe the questions about QBI appear right after you finish entering the business expense questions, i.e., near the end of the business interview.   Have you finished entering the business income and business expenses? 

EDITED for clarification 9/27/2022 at 6:05 PM Pacific

I see you are using desktop software, so please disregard my earlier comment about a shortcut in the Online version, which you may have been emailed.  However, the following method is similar for the desktop version.   In your Home and Business software, this is a shortcut for the Windows version using the Jump link:

• In the top right click on the Search tab/icon.
• In the search box enter QBI without quotes., then click the adjacent small magnifying glass.  NOTE:  Do not select anything in the dropdown menu while entering that term; instead first click the small magnifying glass after entering it.
• Then click on "Jump to QBI."

[ritaburd]

Saw your post to use Schedule C if QBI not calculating in  TT.  I previously entered income & expense & depletion on 1041 & associated forms for Trust royalties.  So, will TT pick up that data to calculate QBI once I include Schedule C in my forms ??   Do I only have to checkmark the QBI box on Schedule C for is to link to the data??

[PatriciaV]

If the Trust Schedule K-1 Box 14 includes Code I ("eye"), TurboTax will ask you for more information on Section 199A. The K-1 should have included additional information for Section 199A that will allow you to answer these questions that relate to the Qualified Business Income Deduction.

Trust income is not reported on Schedule C, which should not be needed to report QBI.

@ritaburd