- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Get your taxes done using TurboTax
It APPEARS to be there, but give incorrect answers.
There ARE income limits for the deduction. However, they DO NOT matter if other limits are met. TT software ignores this and TOTALLY denies you a deduction.
===================================================================
"When an individual’s taxable income (before any QBI deduction) exceeds $207,500 or $415,000 for a joint-filer, the QBI deduction can’t exceed the greater of the individual’s share of:
- 50% of the amount of W-2 wages paid to employees by the qualified business during the tax year, or
- The sum of 25% of W-2 wages plus 2.5% of the cost of qualified property."
February 26, 2024
11:14 PM