Taxpayers who have taxable income that is connected to the following types of businesses may qualify for QBI:
- Sole proprietorship
- Partnership (as a partner)
- S corporation (as a shareholder)
- Trust or estate (as a beneficiary)
- Farms
- Certain rental properties
Income from a specified service trade or business may also qualify if it is below a certain threshold.
Return to Taxing Subjects frequently asked questions.
Related FAQs:
- What is the Qualified Business Income Deduction?
- How is QBI determined?
- What is a specified service trade or business?
- What is the taxable income QBI threshold for 2020?
- What is the taxable income QBI threshold for 2019?
- What is the taxable income QBI threshold for 2018?
- What is the QBI rental real estate safe harbor rule?
