[{"data":1,"prerenderedAt":7},["ShallowReactive",2],{"faq-standard-8110":3},{"rec_id":4,"title":5,"text":6},"8110","Where do I enter a Qualified Business Income (QBI) Deduction (Form 8995)?","Generally, you're allowed a deduction of up to 20% of your net qualified business income (QBI) plus 20% of qualified real estate investment trust (REIT) dividends. Your deduction may be limited if your taxable income is over $197,300 ($394,600 if married filing jointly or $197,300 if married filing separately).\n\u003Cbr>\u003Cbr>\nEnter your business income and expenses as usual, and we'll ask you questions needed to determine your QBI deduction. Depending on your type of business, this is where you can enter your QBI information:\n\u003Cbr>\u003Cbr>\n\u003Cb>Business (Schedule C)\u003C/b>\u003Cbr>\nMenu Path: \u003Ci>Income > Business / Rental Income > Business Income (Schedule C)\u003C/i>\u003Cbr>\u003Cbr>\nEnter your business information and continue until you get to the \u003Ci>Your Business\u003C/i> screen. From there you can click on the \u003Ci>Qualified Business Income Deduction\u003C/i> item (under \u003Ci>Miscellaneous\u003C/i>). You can enter your QBI information on the \u003Ci>Qualified Business Income Deduction\u003C/i> screen.\n\u003Cbr>\u003Cbr>\n\u003Cb>Rental\u003C/b>\u003Cbr>\nMenu Path: \u003Ci>Income > Business / Rental Income > Rental Income (Schedule E)\u003C/i>\u003Cbr>\u003Cbr>\nEnter your rental information and continue until you get to the \u003Ci>Your Rental\u003C/i> screen. From there you can click on the \u003Ci>Qualified Business Income Deduction\u003C/i> item (under \u003Ci>Miscellaneous\u003C/i>). You can enter your QBI information on the \u003Ci>Qualified Trade or Business\u003C/i> screen.\n\u003Cbr>\u003Cbr>\n\u003Cb>Farm (Schedule F)\u003C/b>\u003Cbr>\nMenu Path: \u003Ci>Income > Business / Rental Income > Farm Income (Schedule F)\u003C/i>\u003Cbr>\u003Cbr>\nEnter your farm information and continue until you get to the \u003Ci>Your Farming Activity\u003C/i> screen. From there you can click on the \u003Ci>Qualified Business Income Deduction\u003C/i> item (under \u003Ci>Miscellaneous\u003C/i>). You can enter your QBI information on the \u003Ci>Qualified Trade or Business\u003C/i> screen. \n\u003Cbr>\u003Cbr>\n\u003Cb>Farm Rental\u003C/b>\u003Cbr>\nMenu Path: \u003Ci>Income > Business / Rental Income > Farm Rental Income (Form 4835)\u003C/i>\u003Cbr>\u003Cbr>\nEnter your farm rental information and continue until you get to the \u003Ci>Your Farm Rental\u003C/i> screen. From there you can click on the \u003Ci>Qualified Business Income Deduction\u003C/i> item (under \u003Ci>Miscellaneous\u003C/i>). You can enter your QBI information on the \u003Ci>Qualified Trade or Business\u003C/i> screen.\n\u003Cbr>\u003Cbr>\n\u003Cb>Royalties\u003C/b>\u003Cbr>\nMenu Path: \u003Ci>Income > Uncommon Income > Royalty Income (Schedule E)\u003C/i>\u003Cbr>\u003Cbr>\nEnter your royalty information and continue until you get to the \u003Ci>Qualified Business Income Deduction\u003C/i> screen, where you can enter your QBI information.\n\u003Cbr>\u003Cbr>\n\u003Cb>Partnership (Schedule K-1)\u003C/b>\u003Cbr>\nMenu Path: \u003Ci>Income > Business / Rental Income > Partnership Income (Schedule K-1)\u003C/i>\u003Cbr>\u003Cbr>\nEnter your partnership information, making sure to include any QBI information from \u003Ci>Box 20: Other Information\u003C/i>. If you enter any qualified business income in \u003Ci>Box 20\u003C/i>, continue until you get to the \u003Ci>Qualified Business Income Deduction\u003C/i> screen, where you can enter your remaining QBI information.\n\u003Cbr>\u003Cbr>\n\u003Cb>S Corporation (Schedule K-1)\u003C/b>\u003Cbr>\nMenu Path: \u003Ci>Income > Business / Rental Income > S Corporation Income (Schedule K-1)\u003C/i>\u003Cbr>\u003Cbr>\nEnter your S corporation information, making sure to include any QBI information from \u003Ci>Box 17: Other Information\u003C/i>. If you enter any qualified business income in \u003Ci>Box 17\u003C/i>, continue until you get to the \u003Ci>Qualified Business Income Deduction\u003C/i> screen, where you can enter your remaining QBI information.\n\u003Cbr>\u003Cbr>\n\u003Cb>Estate or Trust (Schedule K-1)\u003C/b>\u003Cbr>\nMenu Path: \u003Ci>Income > Uncommon Income > Estate and Trust Income (Schedule K-1)\u003C/i>\u003Cbr>\u003Cbr>\nEnter your estate or trust information, making sure to include any QBI information from \u003Ci>Box 14: Other Information\u003C/i>. If you enter any qualified business income in \u003Ci>Box 14\u003C/i>, continue until you get to the \u003Ci>Qualified Business Income Deduction\u003C/i> screen, where you can enter your QBI information.\n\u003Cbr>\u003Cbr>\n\u003Cb>REIT Dividends\u003C/b>\u003Cbr>\nMenu Path: \u003Ci>Income > Common Income > Investments and Savings (1099-INT/DIV/B/DA)\u003C/i>\u003Cbr>\u003Cbr>\nEnter your REIT dividends in \u003Ci>Box 5, Section 199A Dividends\u003C/i> of your \u003Ci>1099-DIV\u003C/i>.",1777391474077]