SherrillCPA
Level 2
05-09-2020
10:14 AM
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In computing the Qualified Business Income, the system computes the applicable self employed deductions connected to the business for 1/2 self employment tax and retirement deduction but does not include the self-employed health insurance deduction. This amount is entered on the K-1 but is not included on the QBI worksheet as a deduction. Per my understanding this is supposed to reduce the QBI. Anyone else experiencing this?
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TaxGuyBill
Level 15
05-09-2020
11:36 AM
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Have you confirmed that the Self Employed Health Insurance deduction is showing up on Schedule 1?
sentayehu
Level 1
05-09-2020
05:23 PM
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O
NO
SherrillCPA
Level 2
05-09-2020
06:22 PM
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Yes, the full deduction is on schedule I.
The income is from a partnership but the section at the bottom of the k-1 entry has no line where the health insurance deduction would be populated
