Submitted By: someone
Answered: March 2, 2020 9:04 pm

I failed to claim the QBI deduction on my 2018 return. Can I claim it for 2019?

If you failed to claim the QBI deduction on your 2018 return but were eligible to do so, you’re not alone. The Treasury Inspector General for Tax Administration identified nearly 900,000 2018 returns that didn’t take the QBI deduction even though it appeared they qualified for it. You can’t simply take the 2018 deduction your 2019 return. You may want to file an amended return for 2018 to claim the omitted deduction. Then determine whether you qualify for the QBI deduction on your 2019 return.

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Tax Glossary

Private letter ruling

A written determination issued to a taxpayer by the IRS that interprets and applies the tax laws to the taxpayer’s specific set of facts. A letter ruling advises the taxpayer regarding the tax treatment that can be expected from the IRS in the circumstances specified by the ruling. It may not be used or cited as precedent by another taxpayer.

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