Enacted via the Tax Cuts and Jobs Act of 2017, the qualified business income deduction, or QBI, is worth up to 20% of eligible revenue, subject to limitations.
"It's something that is very important to a lot of privately held businesses," said Howard Gleckman, senior fellow at the Urban-Brookings Tax Policy Center., which report income at the individual level, such as sole proprietors, partnerships and S-corporations, along with some trusts and estates.
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