Business & farm

Turbo Tax will figure it all out for you.  Don't worry about it.  Here's some other info on it.

 

The IRS released the Final Regulations that clarified that

(1) the 1/2 SE tax deduction,

(2) Self Employed Health Insurance deduction, and

(3) employer retirement contributions

need to be subtracted from your business profit to determine "Qualified Business Income" (QBI) for the 20% deduction.