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2018 Qualified Business Income Deduction - Simplified Worksheet
This worksheet is for taxpayers who:
Have taxable income of $157,500 or less ($315,000 or less if married filing jointly)
Have any business income (even from an SSTB), REIT dividends, or PTP income.
Are not a patron in a specified agricultural or horticultural cooperative.
.
Before you begin:
1. (a)
Trade or business name
(b)
Employer
identification number
(c)
Net business income
or (loss)
i.
ii.
iii.
iv.
2. Total qualified business income or (loss). Add the amounts in 1i through 1iv,
column 1(c) .......................................................... 2.
Note. If reporting qualified business income or (loss) from more than four
trades or businesses, see the instructions for line 2 of this worksheet.
3. Qualified business loss carryforward from the prior year ...................
3.
4. Total qualified business income. Combine lines 2 and 3. If zero or less,
enter -0- ........................................................... 4.
5. Qualified business income component. Multiply line 4 by 20% (0.20) .........................
5.
6. Qualified REIT dividends and PTP income or (loss) ........................
6.
7. Qualified REIT dividends and PTP loss carryforward from the prior year .......
7.
( )
8. Total qualified REIT dividends and PTP income. Add lines 6 and 7. If zero or
less, enter -0- ......................................................... 8.
9. REIT and PTP component. Multiply line 8 by 20% (0.20) ....................................
9.
10. Qualified business income deduction before the income limitation. Add lines 5 and 9 ............
10.
11. Taxable income before qualified business income deduction .................
11.
12. Net capital gain (see instructions) ........................................12.
13. Subtract line 12 from line 11. If zero or less, enter -0- .......................
13.
14. Income limitation. Multiply line 13 by 20% (0.20) ..........................................
14.
15.
Qualified business income deduction. Enter the smaller of line 10 or line 14.
Report on Form 1040, Line 9
15.
16. Total qualified business loss carryforward. Add lines 2 and 3. If more than zero, enter -0- .........
16.
( )
17. Total qualified REIT dividends and PTP loss carryforward. Add lines 6 and 7. If more than zero,
enter -0- ............................................................................. 17.
( )
