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Level 2
posted Apr 15, 2021 3:51:02 AM

Why isn't my qualified business income being calculated on Turbotax this year?

I have two sole proprietorships - online teaching and an Etsy/Ebay business.  In the years past, Turbotax asked the question about being a qualified business.  This is pretty important!  This year it didn't.  It's telling me I need to go to forms and fill out form 8895?  And do all the calculations manually??  I thought that was the point of Turbotax!  There is no way I'm calculating this, so I'm just going to lose my tax break I guess.  I am really disappointed- - after years of using TT, I guess next year I'll try a different software.

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1 Replies
Expert Alumni
Apr 15, 2021 3:48:03 PM

You should see this form: Is There Qualified Business Income? after you enter your business income and expenses in TurboTax. 

 

If you indicated that the business is a qualified business, then form 8895 should be completed automatically. I suggest you review your business income and expense entries to see if you answered that question correctly.