You'll need to sign in or create an account to connect with an expert.
Yes.
The IRS released the Final Regulations a couple of days ago that clarified that (1) the 1/2 SE tax deduction, (2) Self Employed Health Insurance deduction, and (3) employer retirement contributions need to be subtracted from your business profit to determine "Qualified Business Income" (QBI) for the 20% deduction.
Yes.
The IRS released the Final Regulations a couple of days ago that clarified that (1) the 1/2 SE tax deduction, (2) Self Employed Health Insurance deduction, and (3) employer retirement contributions need to be subtracted from your business profit to determine "Qualified Business Income" (QBI) for the 20% deduction.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
egpowers
Level 2
Colin13
New Member
bmwermuth
Level 2
christianjames74
New Member
hysteresis
Level 1
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.