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Level 3
December 7, 2019
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How much is the qualified business deduction for a single person. I have a single self employed person, and when I enter her income on Lacerte, the deduction is only 10%

  • December 7, 2019
  • 10 replies
  • 39 views
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Best answer by IRonMaN

There are some factors to consider other than just the bottom line of a schedule C.  Doesn't Lacerte provide a worksheet as to how the number is calculated?

10 replies

IRonMaN
IRonMaNAnswer
Level 15
December 7, 2019

There are some factors to consider other than just the bottom line of a schedule C.  Doesn't Lacerte provide a worksheet as to how the number is calculated?

Slava Ukraini!
cowboys15Author
Level 3
December 7, 2019
Yes, The worksheet shows Business income, minus 1/2 SE tax, then gives net total for QBI.  The amount shown is only 10% of the QBI.  I thought it was 20%