ThomasM125
Expert Alumni

Business & farm

If your income is under $164,900 (single) or $329,800 (married-joint) the there will be no restriction on your QBI deduction because of your income. If your income is over those amounts, then there may still not be a restriction, but it depends on the W-2 wages and cost basis of depreciable assets the business owns. However, if you are a specified service trade or business (a business that relies mainly on the skills of the owner) then there are more restictions if your income is above the thresholds mentioned above, as the wage and depreciable property issues are not taken into account. The article mentioned by @MinhT1 will spell out the details.

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