If you meet IRS criteria for a “real estate trade or business,” the Qualified Business Income (QBI) deduction allows up to 20% of qualified business income to be deducted from taxable income. This deduction can reduce your tax bill if you qualify.
If you meet IRS criteria for a “real estate trade or business,” the Qualified Business Income (QBI) deduction allows up to 20% of qualified business income to be deducted from taxable income. This deduction can reduce your tax bill if you qualify.