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What does qualified business income (QBI) mean?

Date of Posting : June 22, 2020

Qualified business income (QBI) is the net amount of eligible items, including income, gain, deduction, and loss from any trade or business qualifying the deduction. Items included in taxable income are only counted to determine the deduction. Additionally, things need to connect with a U.S. trade or business. Items like capital gains and losses, certain dividends and interest income are not included.