Skip to main content
January 31, 2025
Solved

I have no qualified business income. Why does Turbo Tax show a $68 qualified business income deduction on top of the standard deduction?.

  • January 31, 2025
  • 1 reply
  • 0 views
No text available
    Best answer by VolvoGirl

    Did you get any 1099 DIV dividends with an amount in box 5?  Like about $340?  Then you should have a Qualified Business Income Deduction Summary .    You get  20% deduction.   $340 x .20 = $68.

    1 reply

    VolvoGirl
    VolvoGirlAnswer
    Employee
    January 31, 2025

    Did you get any 1099 DIV dividends with an amount in box 5?  Like about $340?  Then you should have a Qualified Business Income Deduction Summary .    You get  20% deduction.   $340 x .20 = $68.

    January 31, 2025

    Excellent, Volvo Girl! That answers the question fully. Thanks.