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Get your taxes done using TurboTax
An individual may be engaged in more than one trade or business. The qualified business income deduction rules under section 199A presume that each trade or business is a separate trade or business. However, an individual may make a decision to aggregate the various trades or businesses into one trade or business only for the purpose of the qualified business income deduction.
The question is asking whether you want to aggregate multiple trades or businesses into one trade or business for purposes of the qualified business income deduction section 199A. You may not have multiple trades or businesses. You are not required to do this.
See also this IRS FAQ question 28.
QBI 9999 is qualified business income of $9,999, I presume.
UBIA 500 or UBIA 333 is unadjusted basis immediately after acquisition (UBIA) refers to the basis of the assets within the trade or business. See the IRS FAQ question 1.
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