Christopher
Level 1
12-06-2019
06:51 PM
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I have a client who has a partnership for a non-service type business. Their taxable income is over $415,000 MFJ. Since their business does not have wages or depreciable assets, is it true that they are not eligible for any QBI deduction?
If they do get one, please provide the explanation on how this deduction would be calculated.
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sjrcpa
Level 15
12-06-2019
06:51 PM
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The QBI deduction is at the partner level, not the partnership level.
Ex-AllStar
George4Tacks
Level 15
12-06-2019
06:51 PM
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Try this calculator https://bradfordtaxinstitute.com/Tools/199A-Calculator/
Here's wishing you many Happy Returns
dba1040
Level 2
03-10-2020
12:00 PM
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This calculator is awesome - thank you!
