You'll need to sign in or create an account to connect with an expert.
Yes, that subtraction is the required per the Final Regulations issued on January 15, 2019. Also required to be subtracted are the deductible portion of self-employment taxes and the deduction for self-employed health insurance. The instructions for Form 1040 were written before the regulations were finalized and are (purposefully?) vague as to what Qualified Business Income is with respect to a sole-proprietor.
Yes, that subtraction is the required per the Final Regulations issued on January 15, 2019. Also required to be subtracted are the deductible portion of self-employment taxes and the deduction for self-employed health insurance. The instructions for Form 1040 were written before the regulations were finalized and are (purposefully?) vague as to what Qualified Business Income is with respect to a sole-proprietor.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
okrandy
Level 3
hmhathaway
New Member
baseliner5
Returning Member
dhbates
Returning Member
Majk_Mom
Level 2
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.