rtl6836
Level 1
05-06-2020
10:12 AM
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Does a physician who's self employment income is $150,914 and taxable income (MFJ) is $200,749 qualify for the Business Income Deduction?
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IRonMaN
Level 15
05-06-2020
10:55 AM
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What happens when you try to take the deduction?
Slava Ukraini!
abctax55
Level 15
05-06-2020
11:13 AM
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Jeff, what happened to the extra 1.38" (or whatever it was...) you were previously advising for safety?
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rtl6836
Level 1
05-06-2020
11:14 AM
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It will let me take the deduction, but I thought income from a specified service trade or business did not qualify. I have since learned that they may qualify based on the phase in rules. Is that correct?
IRonMaN
Level 15
05-06-2020
11:21 AM
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They are subject to income limitations, but otherwise qualify.
Anna - just thought I would freshen things up a little.
Slava Ukraini!