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Is social security retirement included in the $329,000 self employed tax break ceiling

 
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4 Replies
KrisD15
Expert Alumni

Is social security retirement included in the $329,000 self employed tax break ceiling

Which tax break is that? 

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Is social security retirement included in the $329,000 self employed tax break ceiling

Self employed get a tax break if their income is under $329,000.  I was asking if a person includes their SS in calculating if they are under that number. 

KrisD15
Expert Alumni

Is social security retirement included in the $329,000 self employed tax break ceiling

If you are referring to the Qualified Business Income (QBI) deduction (Sec. 199A), that is based on taxable income.

 

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Is social security retirement included in the $329,000 self employed tax break ceiling

Thank you for your reply. Yes I am asking about QBI. Since it is based on taxable income and Social Security is taxable do I need to include it ?  

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