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Deductions & credits
you did not tell us what the make up of the $300K is. portfolio income, pensions, and social security are not business income. k-1 income from partnerships and s-corps are business income if you materially participate even if the entity itself has no sec 179 (k-1 losses from those entities in which you materially participate would reduce business income). w-2 wages are business income
‎December 26, 2020
12:57 PM