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Is a self-employed nurse suitable for a qualified business income deduction?

Dear all,

 

My spouse works as a self-employed nurse. I wonder if her business could be qualified for taking the QBI deductions?

 

Thank you.

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Expert Alumni

Is a self-employed nurse suitable for a qualified business income deduction?

It depends. If your income is under a certain level then, yes you will be able to claim the QBI deduction.

 

The threshold amounts for QBI are $160,700 for taxpayers filing Single or Head of Household, and $321,400 for taxpayers filing Married Filing Jointly. There is a phaseout range between  $160,701 and $210,700 for Single and Head of Household and $321,401 and $421,400 for Married Filing Jointly. 

 

"For taxpayers with taxable income that exceeds the threshold amount, specified service trades or businesses (SSTBs). An SSTB is 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 or owners."

 

You can see more here.

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Highlighted
Expert Alumni

Is a self-employed nurse suitable for a qualified business income deduction?

It depends. If your income is under a certain level then, yes you will be able to claim the QBI deduction.

 

The threshold amounts for QBI are $160,700 for taxpayers filing Single or Head of Household, and $321,400 for taxpayers filing Married Filing Jointly. There is a phaseout range between  $160,701 and $210,700 for Single and Head of Household and $321,401 and $421,400 for Married Filing Jointly. 

 

"For taxpayers with taxable income that exceeds the threshold amount, specified service trades or businesses (SSTBs). An SSTB is 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 or owners."

 

You can see more here.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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