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February 11, 2025
Question

I cannot find where to enter QBI at all? Last year I was able to get that deduction, but this year it hasn't shown anything, and doesn't prompt me for it at all

  • February 11, 2025
  • 2 replies
  • 0 views
I made less than last year and definitely qualify for the QBI but it is not giving me the option or prompt. When searching for the deduction, I click "go to" and it doesn't take me to that business deduction at all. It isn't on that page.

    2 replies

    Employee
    February 11, 2025

    @ travis3 wrote:
    I made less than last year and definitely qualify for the QBI but it is not giving me the option or prompt. When searching for the deduction, I click "go to" and it doesn't take me to that business deduction at all. It isn't on that page.

    I don't know if you use Online TurboTax or desktop software, but it's probably in a similar location.  As I recall for me in the desktop software,  the QBI questions come on a screen soon after all the Business Income and Expenses have been entered (if your activity is a business), and you continue on for a couple of screens.

     

    Addendum:

    If your business is rental/royalty property, the QBI questions for that activity are also asked on a screen after the Rental/Royalty Income and Expenses have been entered; i.e.,  when you continue forward after that, it should be encountered 2-3 screens after the Rental/Royalty Summary screen.

    February 11, 2025

    If you received income from a partnership, an S corporation, or a trust, you should have received a Schedule K1.  The schedule will have a Section 199A Statement that will contain the information needed to calculate your QBI.   

     

    You'll need this to enter your information into TurboTax using the following steps:

     

    1. Open your return.
    2. Navigate to Schedule K-1:
      • TurboTax Online or Mobile: Go to Schedule K-1.
      • TurboTax Desktop: Search for Schedule K-1 and select the Jump to link.
    3. Answer Yes on the Schedules K-1 or Q screen.
    4. On the Tell Us About Your Schedules K-1 screen, select Start or Update next to the type of Schedule K-1 you received.
    5. Follow the on-screen instructions to enter your Schedule K-1.

    If you have a Schedule C, the program will figure out your deduction and ask you the necessary questions as you enter your business information.

     

    Where do I enter Schedule C?

    @travis3