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Business & farm
Your passive income would not qualify as a business for the QBI deduction from what I read here. If you are getting it, you need to revisit your answers or I am missing information. The 199a seems like a possibility for you as the owner.
The IRS has Qualified Business Income Deduction which includes the sec 162 and 199a explanations. The QBI is a short term credit leaving with 2025.
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‎January 31, 2024
3:46 PM