An individual in a specified service business, such as accounting, with taxable income over the threshold amounts ($207,500, or $415,000 if married filing jointly), will not lose the QBI deduction on such income if:
A) Taxable income exceeds the thresholds due to income of a spouse.
B) Taxable income did not exceed the thresholds in the prior three years.
C) Taxable income exceeds the thresholds because of net capital gain income.
D) None of the above.

Question

Quizplus · Accepted Answer

The QBI deduction is phased out for specified service businesses when taxable income exceeds the threshold amounts, regardless of the reason for exceeding the threshold.

An Individual in a Specified Service Business, Such as Accounting