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brookeb2
February 3, 2022
Question

Does the Qualified Business Income deduction off-set other deductions I can take?

  • February 3, 2022
  • 1 reply
  • 0 views
For example, if my QBI deduction is $500, and I have $550 in other deductions I would like to take, will my total deductions be $1,050, or will they be $550?   

Thank you.

1 reply

M
MinhT1
February 3, 2022

The QBI deduction is a separate deduction which is added to other deductions you may have on your tax return.

 

The QBI deduction is reported on line 13 of your form 1040.

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