$\frac{11}{13}\frac{?}{23},9$:$59AM$

Training detail: Curriculum

Test $-$ Qualified Business Income Deduction $(2023)$

QBI Definition

Question $1$ of $20.$

Married taxpayers who file a joint return and have taxable income of less than $$340,101$ may be eligible to deduct $20\%$ o qualified business income. However, their deduction could be subject to a limitation based on:

Ordinary taxable income $($taxable income before any QBI deduction, minus net capital gains and qualified dividends.$)$

Phase$-$in rules.

Phaseout rules.

The amount of their taxable income from Form $1040,$ line $15.$

Mark for follow up

Question $2$ of $20.$

For purposes of the QBI deduction being limited by taxable income, taxable income refers to:

Adjusted gross income minus net capital gains and qualified dividends of the taxpayer.

Adjusted gross income plus net capital gains and qualified dividends of the taxpayer.

Taxable income before any QBI deduction, minus net capital gains and qualified dividends of the taxpayer. Taxable income plus net capital gains and qualified dividends of the taxpayer.

Mark for follow up

Save $/$ Return Later

Summary

Next $*$