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You may still qualify depending on total income and filing status.
"Specified service trade or business (SSTB), which includes a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the principal asset is the reputation or skill of one or more of its employees. This exception only applies if a taxpayer’s taxable income exceeds $315,000 for a married couple filing a joint return, or $157,500 for all other taxpayers" https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-provision-11011-section-199a-qualified-business-i...
But if you don't want it you can click Tax Tools>>Tools>>Delete a Form>>Delete next to Qualified Business Income Worksheet.
You may still qualify depending on total income and filing status.
"Specified service trade or business (SSTB), which includes a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading, dealing in certain assets or any trade or business where the principal asset is the reputation or skill of one or more of its employees. This exception only applies if a taxpayer’s taxable income exceeds $315,000 for a married couple filing a joint return, or $157,500 for all other taxpayers" https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-provision-11011-section-199a-qualified-business-i...
But if you don't want it you can click Tax Tools>>Tools>>Delete a Form>>Delete next to Qualified Business Income Worksheet.
I know you were posting about this last year, but I cannot figure out how to get to the Box I need to check to indicate that my business is an SSTB. I need to generate Form 8995-A Schedule A and can't until I figure out where this Box is to check. I know my business is a SSTB and my income lies within the phase-in range.
If you don't want it you can click Tax Tools>>Tools>>Delete a Form>>Delete next to Qualified Business Income Worksheet.
The SSTB (specified service trade or business) designation reduces or eliminates the 20% Qualified Business Income (QBI) deduction at higher income levels.
Because the official definition of an SSTB can be vague and open to interpretation, expanded definitions and examples are given below.
Keep in mind: The SSTB label is irrelevant if your 2020 t
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