A taxpayer with taxable income in between the threshold and engaged in an SST will be subject to which limitations other than the ordinary taxable income limitation no additional limitations they're eligible for the full QB deduction wage and property limitation and phase and increase wage and property limitation phase in increase and phase out limitation no additional limitations they will not be eligible for the CBI deduction
Question of
Rita, a single taxpayer, has net Schedule C income of $ from a specified service trade or business SSTB She does not have any other business income. also has Form W income, and her taxable income for the year is $ before the QBI deduction. As Rita's tax preparer, what information will you share with regarding her eligibility to claim the qualified business income deduction?
Unfortunately, she is not entitled to the deduction on her tax return, since her taxable income is over the top threshold.
She qualifies for the deduction, but the amount will be limited based on her income.
She qualifies for the deduction, which will apply to of her taxable income.
She qualifies for the deduction, which will apply to of her net Schedule C income.
