Test - Qualified Business Income Deduction (2020) Section 1 Question 1 of 15. Ordinary taxable income refers to: AGI minus net capital gains and qualified dividends of the taxpayer. AGI plus net capital gains and qualified dividends of the taxpayer. Taxable income before any QBI deduction, minus net capital gains and qualified dividends of the taxpaye O Taxable income plus net capital gains and qualified dividends of the taxpayer. Mark for follow up