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7 March, 10:29

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

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  1. 7 March, 10:47
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    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)
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