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Business & farm
Yes, you would still be eligible, the phaseout would occur once you reach the $315,000 limit. If taxable income is less than $157,500 ($315,000 MFJ), the taxpayer’s specified service trade or business would still be treated as a qualified trade or business.
Below is a Q&A that the IRS released which discusses multiple scenarios related to the QBI deduction.
June 5, 2019
11:12 PM