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February 22, 2021
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LLC taxes help. | Turbo Tax Business | Qualified Business Income

  • February 22, 2021
  • 1 reply
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Hello

 

I am using TurboTax (TT) for my LLC taxes this year. SInce I am not an expert I am comparing my print with last years return which was done by by CPA. 

The difference seems like a problem with the software. 

Last year my return had the business as Principal Business Activity = "Publishing"
But TT list of options is missing Publishing so I am selecting OTHER SERVICES.

I am not sure if this is why the flow is then asking me for a new form I don't see in last year's return.
Under Federal Taxes. I see a Qualified Business Income Deduction.
First, I have no income this year. Second, I am selecting the NO option on the next screen for No, this income is not qualified.

The next screen asked if the income was received from specific services. 
As I said, there is no income.  So, I am selecting NO.

Then the next screen continues on the same flow asking me for the Qualified Business Income (which I have already stated I had none). I am asked to enter an amount.

Is this a software error? 

Thanks for your help


 

Best answer by Anonymous_

The only thing I can state is I doubt this is an error but, rather, just how the software is designed. 

 

Provided you know the answers to the queries and answer correctly for your scenario, the return should be accurate.

1 reply

Employee
February 22, 2021

You should contact phone support for this issue.

 

What is the TurboTax phone number? (intuit.com)

February 23, 2021

I did. But the agents didn't really know how to help.

 

Is there a way that I can get some help here?

 

Employee
February 23, 2021

The only thing I can state is I doubt this is an error but, rather, just how the software is designed. 

 

Provided you know the answers to the queries and answer correctly for your scenario, the return should be accurate.