buksoQBI qualified business income deduction 199A
Not tax advice. General bookkeeping information only, checked against the official sources linked below (Canada Revenue Agency, IRS, provincial governments and Justice Laws) on Oct 17, 2026. Rules change; check with your accountant before you file.
United States
US: Many owners of sole proprietorships, partnerships and S corporations can deduct up to 20% of their qualified business income (the section 199A deduction), whether or not they itemize. Income from a C corporation, wages, and reasonable compensation from an S corporation don't count. Limits apply at higher incomes (for 2026, use Form 8995 if taxable income before the deduction is $201,750 or less, or $403,500 if married filing jointly; otherwise Form 8995-A).
Official source: irs.gov