QBI Deduction

Flathead-22 — Mon, 09 Mar 2026 08:42:05 GMT

As a first time user of TurboTax Online, where/how do I enter my QBI deduction? I am self-employed and married filing jointly. Also, what's my max deduction limit?

Re: QBI Deduction

JulieS — Wed, 09 Mar 2022 17:33:42 GMT

Your QBI deduction will be calculated by TurboTax, based on the information you enter in the program.

After you enter your basic business information, you will be asked a few question to see if you qualify for the QBI deduction.

In general, the QBI deduction is 20% of your business's profit, but there are also adjustments for self-employed health insurance, certain retirement contributions and the deductible portion of self-employment tax.

If your total taxable income in 2021 is under $164,900 for single filers or $329,800 for joint filers, and your business is not a Specified Service Trade or Business (SSTB), the deduction is fairly straightforward.

If your income is higher, or is from a SSTB, your deduction will be limited, and it may be based on the amount of wages paid from your business.

Specified Service Trade or Business (SSTB) is:

Health;
Law;
Accounting;
Actuarial science;
Performing arts;
Consulting;
Athletics;
Financial services;
Brokerage services;
Investing and investment management;
Trading or dealing in securities, partnership interests, commodities; or
Any trade or business where the principal asset is the reputation or skill of one or more of its employees or owners.

To learn more, click here.

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QBI Deduction

Re: QBI Deduction