JulieR
Expert Alumni

Business & farm

Yes. The new section199A - Qualified Business Income Deduction (QBI), is available to most self-employed taxpayers and small business owners can exclude up to 20% of their qualified business income from federal income tax (but not self-employment tax) whether they itemize or not. TurboTax will automatically calculate the deduction for you.

For more information about the deduction, please see the following TurboTax FAQ. https://ttlc.intuit.com/replies/7019998

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