beanet2
New Member

On a K-1 with w-2 wages paid out of $150K and an income less than $315K threshold for QBI, is there the option of deducting the $150K in wages paid versus the QBI ded?

Is is possible to choose between deducting W-2 wages paid to employees versus deducting the QBI deduction?  My QBI deduction is not limited but I had $150K in W-2 wages which seems like it would be a larger deduction than the $40K of QBI.  My income is reported on a K-1 as I'm a GP in a CPA firm.