Question
Which of the following is true about the qualifying business income (QBI) deduction for taxpayers with taxable income above the taxable income limitations? a.If the
Which of the following is true about the qualifying business income (QBI) deduction for taxpayers with taxable income above the taxable income limitations?
a.If the taxpayer is a specified service trade or business (SSTB), no QBI deduction is allowed.
b.If the taxpayer is a qualified trade or business (QTB), W2 wage and property limitations do not apply.
c.If the taxpayer is a qualified trade or business (QTB), W2 wage and property limitations are phased in.
d.If the taxpayer is a specified service trade or business (SSTB), W2 wage and property limitations apply.
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The AICPA Audit Committee Toolkit Private Companies
Authors: AICPA
2nd Edition
1940235464, 978-1940235462
