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Data entry

Enter Qualified Business Income

For most categories of business income, you must enter data for the Section 199A Qualified Business Income (QBI) deduction on an activity-by-activity basis.
  1. Choose Activities to open the
    Business Activities
     window.
  2. In the Activities list, select an existing activity for which you want to enter QBI, or add a new activity.
  3. Select the
    Data Entry
     button.
  4. In the Qualified Busn Inc tab, enter the income or loss in the
    Business income/loss
     field.
  5. Enter the amounts in the
    Other adjustments
    ,
    Allocable wages
    , and
    Allocable basis of property fields
    , and mark the checkbox in the
    Specified service business?
     field.
    note
    • The sum of the
      Qualified Bus Income Component
       fields for all activities copies to the
      Total of QBI components
       field on the
      Deductions
      ,
      QBI Deduction
       tab.
    • The total QBI deduction in the
      Qualified Business Income Dedn
       field on the
      Deductions
      ,
      QBI Deduction
       tab copies to the
      Qualified business income dedn
       field on the
      Main
      ,
      Summary
       tab.
  6. Enter data related to payments received from a specified agricultural or horticultural cooperative in the fields on the Specified Co-ops tab.
Enter data for less typical types of business income, including publicly traded partnerships (PTPs) and the domestic production activities deduction (DPAD) allocated from an agricultural or horticultural cooperative, on the
Deductions
,
QBI Deduction
 tab.
Enter real estate investment trust (REIT) dividends in the
Income
,
Int/Div
 tab. These amounts are copied to the
REIT dividends
 field on the
Deductions
,
QBI Deduction
 tab.

This article applies to:

  • PRODUCT: Planner CS