Are there are any limits on this deduction: Yes. All passthroughs of earned income will qualify up to taxable income (before the qbi) of $157,500 for single or $315,000 for married filing joint people. Taxable income is not adjusted gross income on page 1 of the 1040. Taxable income ...
The Tax Cuts and Jobs Act created a potentially valuable deduction for small business owners, self-employed individuals, and real estate investors. It's known as the Qualified Business Income (QBI) deduction, or more commonly as the pass-through tax deduction. What is the pass-through tax dedu...