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jfglajch
New Member

SSTB in TurboTax

I have a small amount of Consulting income (1099-MISC) relative to total income.  My business is an SSTB so I should not qualify for a deduction.  How do I enter that my consulting business is an SSTB

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1 Reply
Coleen3
Intuit Alumni

SSTB in TurboTax

When you add the word consulting as your job. You do, however, qualify.

Q7. I have income from a specified service trade or business. How does that affect my deduction?

A7. The SSTB limitation does not apply to any taxpayer whose taxable income is below the $315,000/$157,500 threshold amounts. For taxpayers whose taxable income is within the phase-in range discussed in Q&A #6, the taxpayer’s share of QBI, W-2 wages and UBIA of qualified property related to the SSTB may be limited. If the taxpayer’s taxable income exceeds the phase-in range, no deduction is allowed with respect to any SSTB. The threshold amounts and phase-in range are for tax year 2018 and will be adjusted for inflation in subsequent years.

https://www.irs.gov/newsroom/tax-cuts-and-jobs-act-provision-11011-section-199a-qualified-business-i...


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