Question

QBI shows 0 for 2020 taxes. How do I fix this?

Forum|Forum|4 years ago
October 12, 2021
1 reply
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I'm a sole proprietor. filling 2020 taxes online. QBI shows 0. I should qualify for that tax reduction of income. I did last yr. Turbo tax filled in the form/box & calculated it last year & this year it shows 0. Tried punching in 8995 & having no luck to find that & the line to correct it. If I do find the line to correct it, it's odd I'd have to figure that. Error message popped up & all I could enter was 0 & wondered why it asked me. It never has. Only would accept 0. I'm ready to hit submit & googled/searched/called people to no avail. What am I missing or where did I go wrong?

TurboTax Self Employed Online

Critter-3

Do you have a profit on the Sch C ? Did you have more than one Sch C on the return ?

A

AKbvdAuthor

With online TT I'm not sure how to find my sch C.

I do have a profit from my business. Not a loss.

I got an error message that came up on my review section. And I believe it asked QBI. It was a blue form. I'd never seen it before. Only let me put in 0.

Nothing different this year. My income & expenses are pretty similar from LY.

ONLY thing diff is a 1099-G a taxable grant.

Does TT figure your QBI or is it something we can change. I read there was a glitch regarding that box....but it was fixed.