DianeC958
Expert Alumni

Deductions & credits

To qualify for QBI your taxable income has to be below the threshold of $315,000 for Married Filing Joint or $157,500 for all other taxpayers.

 

The source of the income does not matter it is the amount of taxable income.

 

If you look at line 11b on your 1040 form and it is below these limits and you have business profits then you qualify to take a deduction for QBI, if your income exceeds these limits then you do not qualify for the deduction.

 

Link to Facts about the Qualified Business Income Deduction

 

@Barrygbg

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