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Tax law changes
According to the IRS instructions for Form 8995, if you own an interest in a pass-through entity that qualifies as a trade or business, material participation by the taxpayer isn't required for the income to qualify for the QBI deduction. Even though you are a passive investor, the K-1 income should qualify for the QBI deduction if you meet all the other requirements.
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‎January 21, 2024
8:25 AM