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Level 5
April 4, 2019

W-2 wages/UBIA

  • April 4, 2019
  • 1 reply
  • 4 views

When do sole-proprietorships (Schedule C) have to be concerned about W-2 wages deducted on their Schedule C or UBIA if all depreciable assets have been fully depreciated as of 12/31/17?

If the taxpayers taxable income is below the threshhold amount does any of this apply in computing the QBI deduction?

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1 reply

Level 2
April 4, 2019

If taxable income is below the threshhold then you do not need W-2 wages or UBIA to compute the 199A deduction.