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Turbotax software for partnerships, S corps on the QBI deduction.

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  • Turbotax software for partnerships, S corps on the QBI deduction.

    So I'm using the Turbotax software for Business, and in the part about the section 199A deduction, I'm not sure why for Ordinary business income/loss, the software only puts in my business deductions, instead of net income. So I get a negative number and basically, it's ignoring the total business income on line 6 of 1120s. I mean there is a box to make an adjustment, but I'm not sure why it does this. Anybody working on their 1120S using Turbotax at this time who's also stumped by this?

    Thanks for any input.

  • #2
    With respect, you’ve made a data entry mistake. Unfortunately, I doubtyou’re going to find many TT users here who DIY their 1120S returns. Definitely not something I would advise.
    Our passion is protecting clients and others from predatory and ignorant advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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