Per Diem Rates from the U.S. General Services Administration
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Rates are set by fiscal year, effective October 1 each year. Find current rates in the continental United States ("CONUS Rates").
Qualified Business Income (QBI) Deduction (Code Sec. 199A)
Starting in 2018, 20% of certain domestic qualified business income (QBI) from a pass-through entity, such as a sole proprietorship, partnership, or S corporation, may be deducted by an individual, trust and estate.
Where to Deduct the QBI Deduction
The QBI deduction is subtracted from adjusted gross income (AGI) on Form 1040. It is not deducted from business income on your business tax return, such as Schedule C, Form 1065 or Form 1120S, and it is not an adjustment to gross income in figuring adjusted gross income. However, since this deduction is subtracted from adjusted gross income, those claiming the standard deduction or itemized deductions may claim this deduction.
You may also be entitled to add to the QBI deduction up to 20% of combined qualified REIT dividends and qualified publicly traded partnership (PTP) income.