Calculating QBI for Schedule E Income

Learn how to use screen RRC to calculate any available Recovery Rebate Credit (Economic Impact Payment) that the taxpayer might be entitled to on the 2020 tax return.

Due to IRS Security Summit initiatives designed to help prevent identity theft, the IDS screen is required on every individual return for e-file. [CC]

Calculate the qualified business income (QBI) deduction for income deriving from 1065 and 1120S income reported on Schedule K-1. [CC]