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Bookmark or Share- What is the Qualified Business Income (QBI) deduction? - IntuitPerforming arts; Financial services; Brokerage services (including investment management and investing, trading, or dealing in securities, commodities, or partnership interests) Engineering and architecture were specifically excluded from the SSTB definition as it relates to this new deduction.
- Is this activity a qualified trade or business under Section 199A? - Intuit“An SSTB is a trade or business involving the performance of services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, investing and investment management, trading or dealing in certain assets, or any trade or business where the principal asset is the reputation or skill ...
- Once QBI deduction is used in one year, does the taxpayer have ... - IntuitNone of the businesses are a specified service trade or business, or SSTB (any trade or business involving the performance of services in the fields of health, law, engineering, architecture, accounting, actuarial science, performing arts, consulting, athletics, financial services, brokerage services, or any trade or business where the ...
- What is a qualifying performing artist? - IntuitHad allowable business expenses attributable to the performing arts of more than 10% of gross income from the performing arts; Had an adjusted gross income (AGI) of $16,000 or less before deducting expenses as a performing artist. If you’re Married Filing Jointly, this is the combined AGI of both you and your spouse
- What are examples of education expenses? - IntuitEducation expenses can be complex, but we'll simplify them for you. Here are examples of what you can and can't deduct:You can deduct: TuitionEnrollment feesExp
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