Open TurboTax

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements

T657 not calculating the correct allowable QSBC deduction

I sold a business that qualifies for the QSBC exemption.  I have entered the information in the correct place using the easy step and said yes to using the exemption.  I have checked the forms and it has entered properly on Schedule 3 but when I go to the T1 there is no deduction on line 25400.  When I check the T657 it says I have no deduction room (which is not true as I've never used it) and it will not allow me to override.  How can this be fixed?

1 Reply

T657 not calculating the correct allowable QSBC deduction

Please make sure that your software is up to date. If it's not updating on it's on, you can try reinstalling it. You can download the current version of TurboTax Desktop edition here: Choose the current TurboTax Desktop edition you need (for Windows).

 

If you are still not able to resolve your code issue, please contact our phone support team phone support team for more assistance.

 

Unlock tailored help options in your account.