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Oregon Qualified Business Income (QBI) Deduction
We have $65k of property management income through an LLC owned by my husband. After all expenses, depreciation, SE taxes, retirement contributions, etc, the QBI income that qualifies for the 20% deduction on the Federal tax return is $9k. In Oregon, QBI income qualifies for a reduce rated. Turbo Tax is asking me to input the amount of QBI income in Oregon. Do I input the same as the Federal amount ($9k) or is this calculation different?
Thanks,
Katie
March 1, 2020
7:17 AM