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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.
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Tax Glossary
Head of household
Generally, an unmarried person who maintains a household for dependents and is allowed to compute his or her tax based on head of household rates, which are more favorable than single person rates.
