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QBI entity deduction calculator

Level 1

I am preparing Form 1041 with a Schedule E for a rental apartment with net income of $21,312.

The Form 8995 produces a QBI of $242.

How is that QBI on Form 8995 calculated?

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2 Replies 2
Level 15
Level 15

Have you looked at the 8995 and followed the money to see how its calculating?

Level 15

There's also a "20%" of taxable income (with a capital gains modification) that comes into play.

Form 8995 shows the math (at least Lacerte does on an individual return...)

Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.

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