Ataxpayer using the married filing separately filing status who engaged in a specified trade or business will be ineligible for the qbi deduction once their taxable income reaches which amount?

The level of income at which there is deduction phase out is $207,500 amount of taxable income.

Explanation:

QBI stands for Qualified business income. This is a new phase in the tax cut and jobs act which was introduced in the year 2017 in December. It came into application in 2018 tax year.Section 199 A allows a business income deduction to up to twenty percent of the QBI for a variety of entities including sole proprietorship, partnerships, corporation, trusts, estates.

If the taxable income is under the level of $157,000 when there is separate married filing, then a full deduction can be taken. But the deduction phase ends in this case when there is separate married filing, when the level of income is above the limit of $207,500 of the taxable income.

answer:

mclaren

explanation:

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