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Material For Calculating Tax Deduction

QBI Deductions: What You Need to Know

If you’re self-employed or a small business owner, you may be eligible for the Qualified Business Income (QBI) deduction. Many people qualify, but you need to know the rules to take advantage of this tax break.

[Updated: Feb 04, 2021 ] Aug 26, 2019 by Jean Folger

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Filing Status Standard Deduction for 2019
Single Filers $12,200
Married filing jointly $24,400
Head of household $18,350
Married filing separately $12,200

Data source: IRS.

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