Marie Posted February 4, 2019 Report Share Posted February 4, 2019 The tab "Services trade or Business: Qualified business income deductio worksheet" I cant get anything to flow to that? Client has a w-2 and profit on a Sch F. What tabs should have numbers on them? The other tabs I have filled out, I put Farm net profit, and it gave me a 20% deduction. Is that right? Income is under threshold Quote Link to comment Share on other sites More sharing options...
EricF Posted February 4, 2019 Report Share Posted February 4, 2019 Sounds like you got it, except: 1. The services trade or business tab is used only for Specified Service Business. Farms are not on the list of Specified Services, so it should follow the normal rules, and nothing would appear on Services tab. P.S., you're not trying to use that for the W-2 income, right? W-2 income does not qualify as QBI. 2. If your client has adjustments to income, such as 50% of self-employment tax, self-employed health insurance, or self-employed pension, you must reduce the amount from Schedule F by those amounts and enter the net amount on the Activities tab of the 199A Worksheet. Quote Link to comment Share on other sites More sharing options...
Marie Posted February 5, 2019 Author Report Share Posted February 5, 2019 What about ordinary income from sales of farm assets, like cows and bulls. does that add into the qbi? Quote Link to comment Share on other sites More sharing options...
EricF Posted February 5, 2019 Report Share Posted February 5, 2019 Yes, ordinary income from sales add in, but not Sec. 1231 gains or capital gains. Quote Link to comment Share on other sites More sharing options...
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