Why is my QBI 75% of my Schedule C net profit and not 100%? I am a home builder/developer LLC
QBI is the lesser of 20% of your (Sch C income minus half of your Self Employment tax, and minus any self employed health insurance premiums and SEP IRA you might have), or 20% of you taxable income.
Why is my QBI 75% of my Schedule C net profit and not 100%? I am a home builder/developer LLC
QBI is the lesser of 20% of your (Sch C income minus half of your Self Employment tax, and minus any self employed health insurance premiums and SEP IRA you might have), or 20% of you taxable income.
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