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Business & farm
The Qualified Business Income deduction appears on Line 13 of Form 1040, so it serves as a deduction from your Adjusted Gross Income in arriving at your overall Taxable Income.
A profit or loss on Schedule C appears on Schedule 1, which flows to Line 8 of Form 1040, so it is part of your overall Adjusted Gross Income along with your wages.
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‎April 5, 2025
6:06 PM