- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Deductions & credits
If you are limited by the "20% of taxable income minus capital gain" rule, your taxable income is on line 11b and the capital gain to be subtracted is on line 6. If there is no capital gain on line 6, the 20% is applied to the line 11b amount.
If your are not receiving 20% of your QBI/REIT Dividends/PTP income, and 20% of your line "11b minus line 6" amount does not equal your QBI deduction, other limits may be at work. For example, there are limits when your taxable income exceeds the "threshold amount". See Q6 at this IRS website for more information on the limits that apply when your taxable income exceed....
**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"
‎April 16, 2020
8:08 AM