Assuming a self-employed taxpayer filing a schedule "C" for 2018 that otherwise qualifies for the 20% QBI subtraction,
would the net "C" business income need to be reduced by 1/2 the SE tax and the SE med. insurance deduction before the 20% calculation ?
Can't seem to find anything relating to this specific issue in chapter #8 of the 2018 TTB.
My newly installed 2019 software does this automatically from the data entry worksheets for the 20% QBI calc, but did not do it last year.
Did the calculation rules change on this for 2019 ?
Thanks for comments.
would the net "C" business income need to be reduced by 1/2 the SE tax and the SE med. insurance deduction before the 20% calculation ?
Can't seem to find anything relating to this specific issue in chapter #8 of the 2018 TTB.
My newly installed 2019 software does this automatically from the data entry worksheets for the 20% QBI calc, but did not do it last year.
Did the calculation rules change on this for 2019 ?
Thanks for comments.
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