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Level 2
December 7, 2019
Solved

Is there a certain rule that pertains to deciding who gets the QBI and who doesn't?

It seems to me that everyone that owns a for-profit business would get the deduction.  I have one client who is a sole member LLC and files a Schedule C as a Sole  Proprietor, but I find nothing that pertains to an LLC.

This topic has been closed for replies.
Just-Lisa-Now-
Intuit Community Champion
December 7, 2019
A SMLLC is disregarded for tax purposes, its treated the same as a sole prop.      So you probably wouldn't find anything that singles it out specifically with regard to the QBID..
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪

2 replies

itonewbie
Level 15
December 7, 2019
:+1::+1:
---------------------------------------------------------------------------------Still an AllStar
Just-Lisa-Now-
Intuit Community Champion
December 7, 2019
A SMLLC is disregarded for tax purposes, its treated the same as a sole prop.      So you probably wouldn't find anything that singles it out specifically with regard to the QBID..
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪