1. Regarding the QBI deduction which of the following statements are correct?

a. The S corporation computes the deduction

b.The income must be from a US sourced business

c. The rule is inapplicable when an S corporation reports a loss.

d. The deduction must be separately computed for each trade or business.

e. The over all deduction may be limited to a percentage of the shareholders taxable income.

2. Which of the following may vary for taxpayers who are above and those who are below the taxable income threshold limit. (QBI deduction)

a. The percentage deduction

b. The treatment of specified business income.

c. the application of the W-2 wage and qualified property limits.

d. The US business requirement.