Drake Software blog for tax pros, covering tax, IRS news, and more

What types of business income qualify for the QBI deduction?

Taxpayers who have taxable income that is connected to the following types of businesses may qualify for QBI:

  • Sole proprietorship
  • Partnership (as a partner)
  • S corporation (as a shareholder)
  • Trust or estate (as a beneficiary)
  • Farms
  • Certain rental properties

Income from a specified service trade or business may also qualify if it is below a certain threshold.  

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Drake Software Blog Team

The Drake Software Blog Team 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 our staff, email comments@taxingsubjects.com.