You may have another type of income that is not actually "qualified" and reduces your income for the calculation.
For the purposes of the deduction, QBI is defined as net business income, excluding:
- Income generated outside the United States
- Investment income
- W-2 compensation paid to an S corporation owner
- Guaranteed payments to a partner
- Income from REITs, publicly traded partnerships, and qualified cooperatives (these entities may qualify for a 20% deduction under a different set of rules, the explanation of which is beyond the scope of this FAQ).
See What is the Qualified Business Income (QBI) deduction? for more in-depth information.
@azerole
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