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URL:https://www.learndesk.us/class/4683511149625344/lesson/31fc959866f9c75723b137916b056e1b?ref=outlook-calendar
SUMMARY:What's the Deduction About and Who Can Take it?
DTSTART;TZID=America/Los_Angeles:20260513T190000
DTEND;TZID=America/Los_Angeles:20260513T200000
LOCATION:https://www.learndesk.us/class/4683511149625344/lesson/31fc959866f9c75723b137916b056e1b?ref=outlook-calendar
DESCRIPTION: The qualified business income (QBI) deduction was created by the 2017 tax cuts and jobs act and allows non-corporate taxpayers (S-Corps are allowed) to deduct up to 20 percent of their QBI, plus 20% of qualified real estate investment trust (REIT) dividends and qualified publicly traded partnership (PTP) income. It is governed by section 199a of the internal revenue code and is mentioned in the 2019 version of publication 535 "Business Expenses". The deduction is better explained in the instructions to form 8995. The deduction was first allowed in the 2018 tax year. Rental activities are generally not covered by the deduction but can be if the activity is a rental business.
As mentioned above the deduction is for domestic non-corporate taxpayers. Passthrough entities are allowed to take the deduction which allows members of S-Corporations to participate. Trusts, estates, and cooperatives may also take the deduction if they have qualified business income but must pass the deductions...

https://www.learndesk.us/class/4683511149625344/lesson/31fc959866f9c75723b137916b056e1b?ref=outlook-calendar
STATUS:CONFIRMED
SEQUENCE:3
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