HOPE2
Level 9
10-27-2023
01:34 PM
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Thanks but just for reminding, Qualified Business Income Deduction included :
-Qualified business income (net income)
-Qualified wages paid
-UBIA , Qualified business property
QBI deduction is : the lesser of
20% * QBI ( net income)
or greater of each of them A- (50%* W-2 ) B-(25%*W-2 + 2.5%*UBIA)
Also should be check it out the threshold of income
By the way when no W-2 and UBIA, QBI calculation goes on net income that is why we have statement A --- QBI pass-Through Entity Reporting that there is on first line Ordinary business income(loss) so box 17 code V in Schedule K-1 will be generated. However, other items like royalty section 1231, section 179,...are considered.