Which of the following is true about the qualifying business income (QBI) deduction for taxpayers with taxable
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 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), W–2 wage and property limitations do not apply.
c. If the taxpayer is a qualified trade or business (QTB), W–2 wage and property limitations are phased in.
d. If the taxpayer is a specified service trade or business (SSTB), W–2 wage and property limitations apply.
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a If the taxpayer ...View the full answer
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Related Book For 
South-Western Federal Taxation 2020 Comprehensive
ISBN: 9780357109144
43rd Edition
Authors: David M. Maloney, William A. Raabe, James C. Young, Annette Nellen, William H. Hoffman
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