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8620 North New Braunfels Suite 300, San Antonio, TX 78217
Phone: 210-340-8351
Fax: 210-340-8359
Website: theKFORDgroup.com
The qualified business income (QBI) deduction was born from the Tax Cuts and Jobs Act of 2017 and offers tax savings to qualified businesses. Keep reading to learn how this deduction applies to real estate investments.
The deduction is 20% of qualified business income for qualifying businesses, which is subject to multiple limitations, including a phase-out based on income.
For 2022, the deduction is reduced when taxable income exceeds $170,050 for individuals and head of households or $340,100 for married filing jointly (MFJ) with a complete phase-out at $220,050 for individuals and $440,100 for MFJ.
Consult your tax professional to learn how the QBI deduction may apply to your situation.
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