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January 8, 2024
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Should not reduce QBI when an IRA contribution is made. Failure of Turbo Tax or is there another reason?

  • January 8, 2024
  • 2 replies
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Best answer by dmertz

The QBI deduction can be limited by taxable income, so a deductible IRA contribution can reduce taxable income such that the QBI deduction is reduced.

2 replies

Employee
January 9, 2024
dmertzAnswer
Employee
January 9, 2024

The QBI deduction can be limited by taxable income, so a deductible IRA contribution can reduce taxable income such that the QBI deduction is reduced.