Qualified business income includes the reasonable compensation paid to the taxpayer by a qualified trade or business and guaranteed payments made to a partner for services rendered

False

Explanation:

Qualified business income (QBI) = ordinary income - ordinary deductions a taxpayer earns from a qualified trade or business.

A qualified trade or business includes a sole proprietorship, a partnership or an S corporation.

A Taxpayer can deduct up to 20% of their QBI (Section 199A)