The qualified business income deduction can be used with the Schedule C as well. The deduction is worth up to 20% of your taxable business income. The starting point for the QBI calculation for a Schedule C filer is the net profit or loss reported on line 31, however that amount will be reduced by the following: Deductible part of self-employment tax – A taxpayer pays self-employment tax on the net income of all self-employment activity
For more information on QBI, see the link below:
What is the QBI deduction?
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