If a Sch C law practice is considered a (SSTB) but taxable income for a couple does not exceed $315,00 are they eligible for a QBI deduction?

mark-777 — Thu, 06 Jun 2019 06:12:11 GMT

Yes, you would still be eligible, the phaseout would occu...

SherylSTaxExpert — Thu, 06 Jun 2019 06:12:12 GMT

Yes, you would still be eligible, the phaseout would occur once you reach the $315,000 limit. If taxable income is less than $157,500 ($315,000 MFJ), the taxpayer’s specified service trade or business would still be treated as a qualified trade or business.

Below is a Q&A that the IRS released which discusses multiple scenarios related to the QBI deduction.

Click Here

topic If a Sch C law practice is considered a (SSTB) but taxable income for a couple does not exceed $315,00 are they eligible for a QBI deduction? in Business & farm

If a Sch C law practice is considered a (SSTB) but taxable income for a couple does not exceed $315,00 are they eligible for a QBI deduction?

Yes, you would still be eligible, the phaseout would occu...