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Qualified Business Income Deduction

rtl6836
Level 1

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

They are subject to income limitations, but otherwise qualify.

Anna - just thought I would freshen things up a little.

I'm keeping this job. But I am selling surplus anvils on the side. If you are interested please call 867-5309

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4 Replies 4
IRonMaN
Level 15

What happens when you try to take the deduction?

I'm keeping this job. But I am selling surplus anvils on the side. If you are interested please call 867-5309
abctax55
Level 15

Jeff, what happened to the extra 1.38" (or whatever it was...) you were previously advising for safety?

Former Chump..umm... AllStar...This message was typed from 6 feet away so you can safely read it immediately.

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rtl6836
Level 1

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?

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IRonMaN
Level 15

They are subject to income limitations, but otherwise qualify.

Anna - just thought I would freshen things up a little.

I'm keeping this job. But I am selling surplus anvils on the side. If you are interested please call 867-5309

View solution in original post