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Any ideas why my Sch. C business (Milk Route) does not seem to generate a QBI deduction? I have $40,000 of net profit.

 
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IRonMaN
Level 15

Same answer as last night - click the box towards the bottom of the worksheet


Slava Ukraini!

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2 Comments 2
IRonMaN
Level 15

Same answer as last night - click the box towards the bottom of the worksheet


Slava Ukraini!
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Just-Lisa-Now-
Level 15
Level 15

You also need Taxable income for QBI to compute....so if the overall income on the tax return leaves 0 taxable income, no QBI till be computed....so you need to review the entire return, not just the Sch C.  

It will not reduce income subject to self employment taxes, or reduce the self employment taxes themselves.


♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
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