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I received a K-1 for an LLC I am Managing partner, 99.8% interest; can I receive the Qualified Business Income Deduction?
For 2018 the IRS new rules for determining Qualified Business Income (QBI), I am wondering if I this 20% deduction can apply to a K-1 from an LLC I received where I have 99.80% interest and receive 100% of the pass thru profit/losses and I am the managing member/partner that does completely all of the work for the LLC.
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‎June 1, 2019
1:20 PM