- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
You are getting the full amount according to the rules.
According to the IRS (see Q6 at this link), the QBI deduction is the lesser of:
- 20 percent of the taxpayer's QBI, plus 20 percent of the taxpayer's qualified REIT dividends and qualified PTP income' or
- 20 percent of the taxpayer's taxable income minus net capital gain.
Note also that for a "specified service trade or business" there is also a limitation if your taxable income exceeds a threshold amount. For 2019, the threshold amount is $160,700 if single, $321,400 if married filing jointly.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
‎February 8, 2020
1:53 PM
2,642 Views