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QBI deduction not computing

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Small lawnmower engine LLC filing as an Scorp, operating income is $59,221 on the K-1 sent to 1040 but no deduction is being computed. Adjusted gross income is $109,000. What gives?

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Level 15

What is showing up of Form 8995?

SEHI on W-2?

Retirement plan contribution?

Capital gains?

Large itemized deductions?

Former Chump... umm.... AllStar.
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Level 15

Who prepared the K-1?

DOES it show QBI info?  Box 20 (or is that for a partnership...)

The eligibility for QBID is determined at the entity level....maybe lawnmower repair doesn't qualify?  Maybe the K-1 is prepared incorrectly?

JUST income showing on the K-1 doesn't automatically trigger the computation.

To repeat myself....NMI

 

Former Chump... umm.... AllStar.
If a post answers your question, click on *Accept as solution* for future searches
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Level 15

What else is on the K-1?

ex-AllStar, ex-Lutefisk taste taster, ex-ACME product tester
and ex marks the spot where those rocks and anvils hit me.
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Level 15

yeah... could have §179 on it...

Former Chump... umm.... AllStar.
If a post answers your question, click on *Accept as solution* for future searches