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Client is an S-corp consultant, $310k taxable income, $90k W-2 wages, no qualified property. How is the §199A deduction limited?
Because taxable income exceeds the phase-in range for a specified service trade or business, the deduction is fully phased out for this client. Had the activity not been an SSTB, the deduction would instead be capped at the greater of 50% of W-2 wages ($45,000) or 25% of wages plus 2.5% of unadjusted basis.
Authority
- IRC § 199A(b)(2)Deductible amount limitations
- Treas. Reg. § 1.199A-1(d)Computation for taxpayers above threshold
- Rev. Proc. 2019-11Methods for calculating W-2 wages
- IRS Pub. 535, ch. 12QBI deduction overview
Verify each citation before relying on this analysis in a filing.
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