$24.95 
Learn more
Submitted By: someone
Answered: November 19, 2018 10:20 pm
Answered: November 19, 2018 10:20 pm
Where on Schedule C is the qualified business income deduction taken?
The qualified business income (QBI) deduction is not a business deduction; it does not appear on Schedule C or any other business tax return. Instead, it is a personal deduction on Form 1040 that is subtracted after reducing adjusted gross income by the standard deduction or itemized deductions.
advertisement
Featured Books
Tax Glossary
Accelerated depreciation
Depreciation methods that allow faster write-offs than straight-line rates in the earlier periods of the useful life of an asset. For example, in the first few years of recovery, MACRS allows a 200% double declining balance write-off, twice the straight-line rate.
