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22. Subtract line 21 from line 20 . . . . . . . . . . . . . . . . . . . . . . . . . . .
23. Phase-in range. Enter $50,000 ($100,000 if married filing jointly) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
24. Phase-in percentage. Divide line 22 by line 23 . . . . . . . . . . . .
25. Total phase-in reduction. Multiply line 19 by line 24 . . . . . . . . . . . . . . . . . . . . . .
26. Qualified business income after phase-in reduction. Subtract line 25 from line 17. Enter this amount on line 12 for the corresponding trade or business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Part IV: Determine Your Qualified Business Income Deduction 27. Total qualified business income component from all qualified trades, businesses, or aggregations. Enter the amount from Part II, line 16 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 27.
28. Qualified REIT dividends and qualified PTP income or (loss) (see instructions) . . . . . . . . . 28.
29. Qualified REIT dividends and qualified PTP loss carryforward from prior years. Enter as a negative number . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 29.
30. Total qualified REIT dividends and qualified PTP income. Add lines 28 and 29. If less than zero, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 30.
31. REIT and PTP component. Multiply line 30 by 20% (0.20) . . . . . . . . . . . . . . . . . . . . . . . . . . . 31.
32. Qualified business income deduction before the income limitation. Add lines 27 and 31 . . . . . 32.
33. Taxable income before qualified business income deduction . . . . . . . . . . . . . . . . . . . . . . . . 33.
34. Net capital gain (see instructions) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 34.
35. Subtract line 34 from line 33. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 35.
36. Income limitation. Multiply line 35 by 20% (0.20) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36.
37. Qualified business income deduction. Enter the smaller of line 32 or line 36 . . . . . . . . . . . . . . . 37.
38. Total qualified REIT dividend and qualified PTP loss carryforward. Add lines 28 and 29, if zero or greater enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38. 39. DPAD under section 199A(g) allocated from an agricultural or horticultural cooperative. Don't enter more than line 33 minus line 37. Enter this deduction on Form 1040, line 10. See the instructions for Form 1040, line 10 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39.
Part I—Trade, Business, and Aggregation Information Before you beginning to fill out Part I, determine if you need to complete Schedule A, B, C, or D by answering the following questions. 1. Do you have a specified service trade or business? If you answered yes, complete Schedule A before starting Part I. 2. Are you choosing to aggregate multiple trades or businesses into a single trade or business? If you answered yes, complete Schedule B before starting Part I. 3. Did any of your trades or businesses have a net loss for the year or do you have a qualified business net loss from prior years? If you answered yes, complete Schedule C before starting Part I. Line 1. Enter the trade or business name and check the appropriate boxes. If you aggregated multiple trades or businesses into a single busi- ness on Schedule B, enter the aggregation group name, for example, Aggregation 1, 2, 3, etc., instead of entering the business name and leave line 1(d) blank. Enter on line 1(d), the em- ployer identification number (EIN) that was is- sued to you or your business on Form SS-4. If you do not have an EIN, enter your social se- curity number (SSN) or individual taxpayer identification number (ITIN). If you are the sole owner of an LLC that is not treated as a sepa- rate entity for federal income tax purposes, en- ter the EIN issued to the LLC. If you do not have such an EIN, enter the owner's name and tax identification number. Part II—Determine Your Qualified Business Income Component Line 2. Qualified business income from the trade or business. Enter your QBI for each trade or business. The amount reported on line 2 can’t be less than zero. See the instruc- tions for Schedule C. Line 3. Multiple line 2 by 20% (0.20). If your taxable income is $157,500 or less ($315,000 if married filing jointly), skip lines 4 through 12 and enter line 3 on line 13. Line 4. Allocable share of W-2 wages from trade or business. Enter your W-2 wages from the trade or business. Note. if the QBI on line 2 for the trade or business is zero, then the amount reported on line 4 with respect to that trade or business must also be zero. Line 7. Allocable share of the unadjusted basis immediately after acquisition. Enter your share of the UBIA for all qualified property for the trade or business. Note. if the QBI on line 2 for the trade or business is zero, then the amount reported on line 7 with respect to that trade or business must also be zero. Line 14. Patron reduction. Patrons of agri- cultural or horticultural cooperatives are re- quired to reduce their QBI deduction by the lesser of: • 9% of QBI allocable to qualified payments from a specified cooperative, or • 50% of W-2 wages allocable to qualified payments. If you are a patron of an agricultural or horti- cultural cooperative, fill out Schedule D, Special Rules for Patrons of Agricultural or Horticultural Cooperatives. Page 56 Chapter 12 Qualified Business Income Deduction