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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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.
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