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Returning Member
posted Jun 3, 2019 1:43:52 PM

It appears as though New York State does not allow the Qualified Business Income deduction, is that correct? If it does how does one enter this information?

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Level 1
Jun 3, 2019 1:43:53 PM

Correct. New York does not allow for the QBI deduction because they start with the federal AGI, which does not have the QBI.

Source: https://www.cpajournal.com/2018/12/14/icymi-the-tax-cuts-and-jobs-act-qbi-deduction-issues-for-professionals/

1 Replies
Level 1
Jun 3, 2019 1:43:53 PM

Correct. New York does not allow for the QBI deduction because they start with the federal AGI, which does not have the QBI.

Source: https://www.cpajournal.com/2018/12/14/icymi-the-tax-cuts-and-jobs-act-qbi-deduction-issues-for-professionals/