There are three limitations on the qualified business income deduction: an overall limitation (based on modified taxable income), another that applies to high income taxpayers, and a third that applies to certain types of services businesses.

Question

Quizplus · Accepted Answer

This statement is true. The qualified business income deduction has three limitations - an overall limitation based on modified taxable income, a high income limitation, and a limitation for certain services businesses.

There Are Three Limitations on the Qualified Business Income Deduction