Reg – QBI deduction

  • Creator
    Topic
  • January 4, 2020 at 5:01 pm #2873661
    Biff Tannen
    Participant

    Not sure if it’s worth memorizing all the phase out formulas for the QBI deduction? Not trying to get the Elijah Watts award – just trying to get my 75 and call it a day so that I can move on with my life. Is it worth it to memorize all the formulas that come with the QBI deduction?

Viewing 4 replies - 1 through 4 (of 4 total)
  • Author
    Replies
  • January 4, 2020 at 5:29 pm #2873700
    ally
    Participant

    I don't think you necessarily need to know the formulas or how to calculate it, but I'd highly recommend reviewing the income thresholds and what those mean. Roger had barely any Qs on QBI so I didn't think much of it, but it's helpful to have an understanding of the limitations and what all goes into the calc.

    (took REG yesterday fwiw)

    January 4, 2020 at 5:30 pm #2873709
    Biff Tannen
    Participant

    @ally thank you!!

    January 4, 2020 at 5:34 pm #2873712
    ally
    Participant

    Any time! I've actually seen some crazy QBI situations at work and know it decently well, so let me know if you have any questions (and good luck!).

    January 5, 2020 at 4:30 am #2874306
    bigstakk
    Participant

    I recommend putting in the effort to learn how to calculate it.

  • Author
    Replies
Viewing 4 replies - 1 through 4 (of 4 total)
  • The topic ‘Reg – QBI deduction’ is closed to new replies.