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March 2, 2025
Question

Why is there a $1 QBI deduction appearing on line 13 of my 1040 when I don't even have any business income?

  • March 2, 2025
  • 1 reply
  • 0 views
I haven't filed yet, so I cannot see form 8995 or 8995A, and when I try to search for it to jump straight to it nothing comes up, so I'm not sure how to correct this.

    1 reply

    March 3, 2025

    It depends. It's possible to have a qualified business income deduction (QBID) from certain REITs as well. You can print and review your return before you file. This will allow you to see where it's coming from.

    You have access to all forms when you choose to print your return in TurboTax Online/Mobile.  However you are required to pay before printing, but do not have to file until you are ready.

    If you are using TurboTax Desktop you can switch to Forms and review all forms and worksheets.

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