Qualified Business Income Deduction: What is QBI Deduction and How to Calculate it?{2024}

Understanding the QBI Deduction: Definition and Calculation Qualified Business Income Deduction The QBI Deduction lets you deduct up to 20% of your Qualified Business Income (QBI). Not available for income from C Corporations or services as an employee. Whether you take the standard or itemized deduction, you can still claim QBI Deduction. Eligible taxpayers can … Read more