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02-12-2019
08:26 PM
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Agreed. The QBI deduction can be very different based on entity type and income levels. Schedule C's may lose the deduction completely at high income levels if the activity has no wages; at lower levels, it might get a higher deduction than S Corps. It does create planning opportunities.
Based on customer feedback, we created a QBI Entity Selection calculator to help Pros evaluate the QBI deduction, and total tax, across entities. You can find the "QBI Entity Selection Calculator" in the Tax Reform Resource Center.
https://proconnect.intuit.com/tax-reform/