Specified service trades of businesses

Technical topics regarding tax preparation.
#1
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182
Joined:
10-Dec-2014 1:52am
Location:
New York
Just need a quick clarification;

If a taxpayer is in a business of health, law, accounting, actuarial science, performing arts, consulting with taxable income below the threshold amount, they are qualified for the 20% QBI deduction. Correct?
 

#2
Posts:
8156
Joined:
4-Mar-2018 9:03pm
Location:
The Office
Yes.

SSTBs begin to phase out at the threshold amount.

Non-SSTBs begin to phase in limitations at the threshold amount.
 


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