Use this flowchart to help you understand the QBI deduction, whether you’re able to claim it, and if your deduction is limited. This handy flowchart also walks you through how to calculate your limitation.
Pro tip! If you’d like to expand this chart to fullscreen, scroll to the bottom of the chart, hover your cursor over it, and click on arrows symbol. It’s located in the bottom right corner of the chart.
Have questions about the QBI deduction? We have answers!
- What counts as qualified business income (QBI)? What doesn’t? Get the answer.
- What’s a specified service trade or business? Get the answer.
- Can I aggregate multiple businesses? Yes! Read the rules.
- Can you walk me through calculating my deduction and the limitation? Yes, read this blog.
Our flowchart makes it look simple, but this is a complex deduction. We recommend you consult with a tax professional to better understand how this deduction applies to you and impacts your tax return.
Have more questions about the contents of our QBI deduction flowchart? Let’s talk!