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Get your taxes done using TurboTax
You don't need to do it manually, the software calculate and ally the deduction automatically. The qualified business income deduction (QBI) is a tax deduction that allows eligible self-employed and small-business owners to deduct up to 20% of their qualified business income on their taxes. In general, total taxable income in 2020 must be under $163,300 for single filers or $326,600 for joint filers to qualify.
‎April 15, 2021
1:29 PM