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Pass-Through Entities: New 20 Percent Qualified Business Income (QBI) Deduction

Pass-Through Entities: New 20 Percent Qualified Business Income (QBI) Deduction

The Tax Cuts and Jobs Act (TCJA) added a new tax deduction for owners of pass-through entities – a 20 percent deduction of qualified business income (QBI) from a qualified trade or business. Here's what this means, who qualifies, and the limitations.