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Taxing Subjects

The Taxing Subjects staff is proud to cover the latest in tax-industry-related news, from tax law and IRS updates to technology and business strategies. If you have questions about an article or just want to reach out to the Taxing Subjects staff, email comments@taxingsubjects.com.

How is QBI determined?

The 20 percent QBI deduction is based on qualifying business income from a sole proprietorship, partnership, S corporation, trust or estate, farm, and certain rental property. The amount of the deduction can be further limited if the taxpayer’s income exceeds the inflation-adjusted threshold established for that tax year.…

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