What Is the QBI Tax Deduction and Who Can Claim It?
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What Is The Qualified Business Income Deduction?What Doesn’T Count as Qualified Business Income?How Is The QBI Deduction calculated?Limitations on QBI Deductions For deduction purposes, these types of income are excluded from QBI: 1. Earnings from a W-2 job (if you’re work a side hustle) 2. Income from business outside of the United States 3. Interest income unrelated to a trade or business 4. Annuities received from something other than a trade or business 5. Guaranteed payments from a partnership 6. Inves...
For deduction purposes, these types of income are excluded from QBI: 1. Earnings from a W-2 job (if you’re work a side hustle) 2. Income from business outside of the United States 3. Interest income unrelated to a trade or business 4. Annuities received from something other than a trade or business 5. Guaranteed payments from a partnership 6. Inves...
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